All of the Following Are True Concerning Embedded Audit Modules

question 50

Multiple Choice

All of the following are true concerning embedded audit modules except:

• A)They provide for continuous auditing of application processing
• B)The auditor does not have to be involved in the development of these programs
• C)Once implemented, the system can capture information that is useful to the auditor on an ongoing basis
• D)With this approach, the application program incorporates subroutines for audit purposes

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Definitions:

Annual Payments

Regular payments made once a year, often as part of a financial agreement or obligation.

Medical Bills

Documents or statements that detail charges for medical services and treatments provided to a patient.

Endowment Policy

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.

Maximum Loan

The highest amount of money that a borrower can obtain from a lender under a specific loan agreement.