State Whether Each of the Following Statements Is Correct or Incorrect

question 52

Short Answer

State whether each of the following statements is correct or incorrect.
A. Specialists with specialized skills in IT processing are seldom used on audits since each audit team member is expected to have the necessary skills.
B. The nature of the IT-based system may affect the specific procedures employed by the auditors in testing the controls.
C. Computer assisted audit techniques, while helpful for tests of controls, are seldom helpful for substantive procedures.
D. Parallel simulation involves the use of audit software to process functions essentially equivalent to those of the client's program and to determine whether auditor and client results are equivalent.

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Definitions:

Service

Intangible activities or benefits provided to consumers, including assistance, experience, or access, that satisfy a need or want.

Online

Pertaining to activities, transactions, or services carried out over the Internet or connected to being accessible or available through the internet.

Social Media

Websites and applications that enable users to create and share content or to participate in social networking.

Mobile Media

Content or advertising delivered through mobile devices, such as smartphones and tablets, often leveraging apps and mobile websites.