Answered: Which of the following is NOT a test…

Which of the following is NOT a test for identifying application errors? a. reconciling the source code b. reviewing test results c. retesting the program d. testing the authority table

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: What type of internal control would recalculating the totals on a computer report be?

A: Step 1: The rules and procedures implemented by a company to ensure the integrity of the…

Q: Which of the following is an advantage of computer-assisted audit techniques (CAATs)?a. All the…

A: Answer: Option b.

Q: Discuss the differences between the attest function and assurance services.

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: 6. Input validation checks (application controls) are applied to every bill…

A: Management assertions are made by members of the management. In order to rely on these claims, the…

Q: How is Parallel Simulation utilized during an audit?

A: Auditing: It is the systematic verification of the books of accounts of an organisation by an…

Q: riefly provide your opinion whether an auditors wishing to assess the adequacy of separation of…

Q: How long must audit workpapers be maintained?

A: Definition: Audit planning: Audit planning includes the designing of audit strategy for the…

Q: User acceptance testing is more important in an object-oriented development process than in a…

A: User acceptance testing (UAT) is more critical in an object-oriented development process due to the…

Q: Evaluating data reliability is a critical part of the audit process. Explain the differences among…

A: Internal data is internal to the company as the name suggests. It gives an insight on company's…

Q: Which of the following exists as an inherent risk even in the best designed systems a.…

A: Internal controls are processes, policies, and procedures implemented by an organization to ensure…

Q: Explain the normal process an auditor would expect to find in the client's systems. governing…

A: Audit: It is a systematic examination of books of accounts of an individual or a firm. It is done by…

Q: program itself will:

A: An audit is the investigation and confirmation of a company's financial records. Its objective is to…

Q: When using test data, why are audit teams required to prepare only one transaction to test each IT…

A: Audit test data is used to test the existence and effectiveness of controls built into an…

Q: d. (Optional) Prepare a system Mowchart of a rode- signed computer- based system that resolve

A: Internal Control Weaknesses: Internal control weaknesses can be defined as the lack of standards…

Q: What very important precautions must be taken during the data conversion procedures?

Q: What are some audit procedures that can be performed using CAATs?

A: Computer-Assisted Audit Techniques (CAAT's): The technique which assists an auditor to perform audit…

Q: Requirements 1. 2. Define internal control. The system of internal control must be tested by…

A: Define internal control: Internal control refers to the set of policies, procedures, and practices…

Q: What is (DAS) the Dynamic Audit Solution ? b) What is OnPoint PCR?

A: What is (DAS) the Dynamic Audit Solution ? DAS is a cloud-based solution that aims to automate and…

Q: When can an audit of IT be performed without directly interacting with the system?

A: Auditing: It is a systematic verification of the books of accounts of an organisation by an…

Q: Identify test of controls that would not typically be used in assessing control design…

A: Test of controls are audit procedures to test the efficiency of the internal control system. It…

Q: The client’s computerized exception reporting system helps audit teams conduct a moreefficient audit…

A: Answer: b. Highlights abnormal conditions.

Q: Briefly describe record counts, batch totals, and hash totals. What types of errors in input…

A: Input controls: It is created to provide reasonable guarantee of received data for processing by the…

Q: What tests may be conducted for identifying unauthorized program changes?

Q: an introduction about the effect of artificial inteligence on audit

A: The on-site verification activity of a process or quality system, such as inspection or examination,…

Q: What is the benefit of Generalized Audit Software in an audit?

A: Definition: Generalized audit software (GAS): The software which assists an auditor to perform…

Question

Which of the following is NOT a test for identifying application errors?
a. reconciling the source code
b. reviewing test results
c. retesting the program
d. testing the authority table

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

What are some advantages of using a software system versus recording transactions manually (by hand)?
Briefly describe record counts, batch totals, and hash totals. What types of errors in input would each of these controls likely identify?
Exactly what is the advantage of using Generalized Audit Software during an audit?
Which of the following are typical prevention costs? (Check all that apply.) Multiple select question. Quality circles Statistical process control Depreciation of test equipment Debugging software errors
Make a critique about how to use COSO to Assess IT Controls
What role does the audit trail play in the task of confirmation?
Evaluating data reliability is a critical part of the audit process. Explain the differences among the following in terms of reliability: Data obtained from direct versus indirect methods.
If the system is behind schedule and if each program module is tested and no problems are found, is it necessary to test all modules in conjunction with one another? Why or why not?
Three difficulties associated with using embedded audit software as part of the audit process.
In auditing program change control, the IT auditor will: a. Not need to inspect program authorization forms for signatures b. Ensure an organization is following the process described in their documentation for program change control c. Make sure that only computer programmers move their own changes into a production environment d. Make sure that only computer programmers have tested the changes they made to programs
How testing transaction as appropriate in internal control system?
SCOPE OF AUDIT IN A CIS ENVIRONMENT High Speed low clerical error Concentration of duties shifting of internal control basea. application systems development controlb.systems software control Disappearance of manual reasonable impact of poor system Exception reporting man-machine interface explain briefly and give examples