Auditors Have Several Techniques Available to Them to Test Computer-Processing

question 7

Multiple Choice

Auditors have several techniques available to them to test computer-processing controls.An audit technique that immediately alerts auditors of suspicious transactions is known as

• A)a SCARF.
• B)reperformance.
• C)the snapshot technique.
• D)an audit hook.

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Definitions:

Relevant Market

The market segment comprising all the consumers and businesses interested or potentially interested in purchasing a specific product or service, considering the available substitutes.

Standard Oil

Standard Oil was an American oil producing, transporting, refining, and marketing company. Established in 1870, it was a precursor to the modern oil industry and was later broken up due to antitrust laws.

Conglomerate Merger

A type of corporate merger between companies that operate in entirely different industries, aimed at diversification and risk reduction.

RCA

Radio Corporation of America, historically a major American electronics company and a pioneer in radio and television; also refers to a type of audio-video cable connector.