Question: 1. Segments of code that perform audit functions, report results to the auditor, and store collected evidence (3 words). 5.A level of confidence that strikes

1. Segments of code that perform audit functions, report results to the auditor, and store collected evidence (3 words). 5.A level of confidence that strikes a balance between costs and benefits. 7 The likelihood that a material misstatement will get through the control structure (2 words). 8 Type of audit that examines reliability and integrity of accounting records. 10 Places a small set of test records in the genuine master file, such as crating a fictitious store. 11 Type of audit to determine whether resources are being used efficiently and effectively. 12 A technique by which selected transactions are marked with a special code, and audit modules record the transactions and their master files before and after processing. Down 2 The likelihood that auditors and their procedures will miss a material error or misstatement (2 words). 3 The potential impact of an item on decision making. 4Uses audit modules to continuously monitor transactions and collect data on those with special audit significance. 6 Measures how susceptible an area would be with no controls (2 words). 7Type of audit that examines effectiveness of internal controls and how well they're being followed. 9 Routine that flag suspicious transactions and provide real-time notification

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!