AUDIT TEST 2 - SET 2 - CHAPTERS 5,6,7,8,9 EXAM REVIEW 2024

AUDIT TEST 2 - SET 2 - CHAPTERS 5,6,7,8,9 EXAM REVIEW 2024 accounting records - ANS-The records of initial entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal entries, and other adjustments to the financial statements that are not reflected in formal journal entries; and records such as work sheets and spreadsheets supporting cost allocations, computations, reconciliations, and disclosures. analytical procedures - ANS-Evaluations of financial information through analysis of plausible relationships among both financial and nonfinancial data. appropriateness of audit evidence - ANS-A measure of the quality of audit evidence, and includes both the relevance and reliability of the evidence. account assertions - ANS-existence completeness valuation and allocation rights and obligations transaction assertions - ANS-Occurrence Completeness Accuracy Cutoff Classification audit data analytics - ANS-Using analysis, modeling, and visualization to discover and analyze patterns, anomalies, and other information in data in the context of the audit. CONTINUES...