By Using Data Analytics Tools,the Auditor Can Potentially Audit the Whole

question 7

True/False

By using data analytics tools,the auditor can potentially audit the whole population rather than taking a sample.

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Definitions:

Conventional Cash Flow

A pattern of cash flow over time where an initial outlay is followed by a series of positive cash inflows.

Cash Flows

The entirety of cash and cash-equivalent assets being moved into and exiting a company.

Present Value

The valuation today of an asset or cash flow that is received in the future, taking into account a specific interest rate.

Net Present Value Profile

A graphical representation of the relationship between an investment’s Net Present Values and various discount rates.