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The Information Systems Auditing Technique That Uses Software That Has

question 111

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The information systems auditing technique that uses software that has been specifically designed to allow auditors to perform audit-related data processing functions is called


Definitions:

Consumer Price Index

An index that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Effective Annualized Rate

The interest rate on an investment or loan on an annual basis, taking compounding into account.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Effective Interest Rate

The actual annual interest rate that an investor earns or pays, taking into account the effect of compounding over the period.

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