130. When planning audit data analytics to identify and assess an entity's risks of material misstatement, the auditor should consider all the following factors, except

A. The availability of data.

B. The reliability of data available.

C. The relevance of data available.

D. The confidentiality of data available.

134. An audit client has implemented an electronic data interchange (EDI) system for interacting with customers and suppliers. Which of the following is the expected result for the audit client?

A. Increased accounts receivable turnover ratio.

B. Longer operating cycle.

C. Increased data security.

D. Reduced need for data translation software.

138. A reason for performing substantive tests of transaction details is to

A. Assess the level of control risk.

B. Attain assurance about the reliability of the accounting system.

C. Identify material financial misstatements.

D. Evaluate whether management's policies and procedures operated effectively.

141. Which of the following components of COSO's internal control framework is relevant to implementing IT controls used to verify data as it is entered into an accounting system?

A. Risk assessment.

B. Control environment.

C. Monitoring.

D. Control activities.

144. A practitioner's report on agreed-upon procedures that is in the form of procedures and findings should contain

A. Negative assurance that the procedures did not necessarily disclose all significant deficiencies and material weaknesses.

B. An acknowledgment of the practitioner's responsibility for the sufficiency of the procedures.

C. A title that includes the word "independent."

D. A disclaimer of opinion on the entity's financial statements.

147. Which of the following applications of sampling to test controls is most appropriate?

A. Testing a sample of customer orders for evidence of credit approval.

B. Testing a sample of controls to determine segregation of duties between inventory control and sales processing duties.

C. Testing a sample of accounts receivable confirmations.

D. Testing a sample of the budget center directors' allocation of annual budget to sales units.