Accounting Data Analytics Exam 2 (Ch 5-9)
1. True: A flat file is a single table of data with user-defined attributes.
True or False?
2. False: The Audit Data Standards define common tables and fields that are
needed by auditors to perform common audit tasks. The Securities and Exchange
Commission, or SEC, developed these standards.
True or False?
3. False: The Base Standard of the AICPA Audit Data Standards defines the order
for files and fields as well as some master data for users and business units.
True or False?
4. True: The General Ledger Standard of the AICPA Audit Data Standards adds the
chart of accounts, source listings, trial balance, and GL detail.
True or False?
5. True: Continuous auditing is a process that provides real-time assurance over
business processes and systems.
True or False?
6. D) The homogenous systems approach; The heterogeneous systems ap-
proach: ensures that all of its divisions and subsidiaries use a uniform
installation of one ERP system. allows for the use of bolt on systems of
companies that are acquired and uses a series of translators to convert the output
of various systems into usable financial information.
A) Continuous reporting; Continuous monitoring
B) Continuous monitoring; Continuous reporting
C) The heterogeneous systems approach; The homogenous systems approach
D) The homogenous systems approach; The heterogeneous systems approach
7. A) Flood of alarms: Continuous auditing relies heavily on alarms, which are
, Accounting Data Analytics Exam 2 (Ch 5-9)
essentially notifications of a classification problem. A occurs when too
many alarms are false positives.
A) Flood of alarms
B) Exception report
C) A negative event
D) Data warehouse
8. C) security audits: Under the guidance of the chief audit executive (CAE) or
another manager, teams can develop and implement analytical techniques to aid
the following audits except:
A) governance audits
B) risk audits
, Accounting Data Analytics Exam 2 (Ch 5-9)
C) security audits
D) forensic audits.
9. B) Sky: PWC uses all but the following systems to automate its audit process?
A) Halo
B) Sky
C) Aura
D) Connect
10. A) scope: The of the audit defines parameters that will be used to filter
the records or transactions being evaluated.
A) scope
B) methodology
C) plan
D) IMPACT model
11. Heterogeneous: The following features relate to which type of system?
-Requires system translator software
-Integrate multiple ERP systems in multiple locations
-Usually the result of many acquisitions
12. Homogeneous: The following features related to which type of system?
-Have the same ERP system in multiple locations
-Simplifies the reporting and auditing process
13. Both homogeneous and heterogeneous: The following feature relates to what
type of system?
-Allow auditors to review data in a data warehouse
14. greater; lower: Homogeneous systems allow for interaction within a
, Accounting Data Analytics Exam 2 (Ch 5-9)
company and a lower cost of internal controls since systems are set up
and used in the same fashion.
15. Traditional Audit: The following features relate to what type of audit?
-Sampling
-Auditors appear at regular intervals
-Delayed resolution of the issue
-Copying and pasting data into Excel
-Annual Audit
16. Continuous Audit: The following features relate to what type of audit?
-Full population testing
-Alarms when a control is violated
-Immediate resolution of the issue
1. True: A flat file is a single table of data with user-defined attributes.
True or False?
2. False: The Audit Data Standards define common tables and fields that are
needed by auditors to perform common audit tasks. The Securities and Exchange
Commission, or SEC, developed these standards.
True or False?
3. False: The Base Standard of the AICPA Audit Data Standards defines the order
for files and fields as well as some master data for users and business units.
True or False?
4. True: The General Ledger Standard of the AICPA Audit Data Standards adds the
chart of accounts, source listings, trial balance, and GL detail.
True or False?
5. True: Continuous auditing is a process that provides real-time assurance over
business processes and systems.
True or False?
6. D) The homogenous systems approach; The heterogeneous systems ap-
proach: ensures that all of its divisions and subsidiaries use a uniform
installation of one ERP system. allows for the use of bolt on systems of
companies that are acquired and uses a series of translators to convert the output
of various systems into usable financial information.
A) Continuous reporting; Continuous monitoring
B) Continuous monitoring; Continuous reporting
C) The heterogeneous systems approach; The homogenous systems approach
D) The homogenous systems approach; The heterogeneous systems approach
7. A) Flood of alarms: Continuous auditing relies heavily on alarms, which are
, Accounting Data Analytics Exam 2 (Ch 5-9)
essentially notifications of a classification problem. A occurs when too
many alarms are false positives.
A) Flood of alarms
B) Exception report
C) A negative event
D) Data warehouse
8. C) security audits: Under the guidance of the chief audit executive (CAE) or
another manager, teams can develop and implement analytical techniques to aid
the following audits except:
A) governance audits
B) risk audits
, Accounting Data Analytics Exam 2 (Ch 5-9)
C) security audits
D) forensic audits.
9. B) Sky: PWC uses all but the following systems to automate its audit process?
A) Halo
B) Sky
C) Aura
D) Connect
10. A) scope: The of the audit defines parameters that will be used to filter
the records or transactions being evaluated.
A) scope
B) methodology
C) plan
D) IMPACT model
11. Heterogeneous: The following features relate to which type of system?
-Requires system translator software
-Integrate multiple ERP systems in multiple locations
-Usually the result of many acquisitions
12. Homogeneous: The following features related to which type of system?
-Have the same ERP system in multiple locations
-Simplifies the reporting and auditing process
13. Both homogeneous and heterogeneous: The following feature relates to what
type of system?
-Allow auditors to review data in a data warehouse
14. greater; lower: Homogeneous systems allow for interaction within a
, Accounting Data Analytics Exam 2 (Ch 5-9)
company and a lower cost of internal controls since systems are set up
and used in the same fashion.
15. Traditional Audit: The following features relate to what type of audit?
-Sampling
-Auditors appear at regular intervals
-Delayed resolution of the issue
-Copying and pasting data into Excel
-Annual Audit
16. Continuous Audit: The following features relate to what type of audit?
-Full population testing
-Alarms when a control is violated
-Immediate resolution of the issue
