Question: 3. An audit team intends to rely on relevant data elements in the trade receivables report generated by the entity's system to perform a trend

3. An audit team intends to rely on relevant data
3. An audit team intends to rely on relevant data elements in the trade receivables report generated by the entity's system to perform a trend substantive analytical procedure. The report has over 2,000 transactions Which of the following actions could the team do to obtain audit evidence over the accuracy of the report? (1 Point) Engage a KPMG statistician to perform re-computations of the report to determine accuracy. Engage a KPMG sampling specialist to determine an appropriate sample size to trace to supporting documents from the report, Engage a KPMG IRM specialist to test the automated application control over the accuracy of the report Use a computer assisted auditing techniques (CAAT) to determine an appropriate sample size to trace to supporting documents from the report

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 General Management Questions!