Documentation of an Audit Data Analytic (ADA), should be sufficient enough such that:

Multiple Choice

• An investor looking into the company could understand the conclusions reached and significant judgments made

• An experienced auditor, with no prior connection to the engagement could understand the conclusions reached and significant judgments made

• Both "An investor looking into the company could understand the conclusions reached and significant judgments made" and "An experienced auditor, with no prior connection to the engagement could understand the conclusions reached and significant judgments made" are correct

• An experienced auditor, who is familiar with the engagement could understand the conclusions reached and significant judgments made

In order to be considered sufficient, documentation should be prepared so that an experienced auditor, with no prior connection with the engagement can understand

1. The nature, timing, and extent of procedures performed
2. The difficulty of the audit
3. Results of procedures and evidence obtained
4. Conclusions reached and significant judgments made

Multiple Choice

• I, III, and IV

• III and IV

• I, II, III, and IV

• I and III

Which of the following statements is correct regarding the inclusion of client data in audit documentation for an issuer?

Multiple Choice

• Auditors should include client data in audit documentation

• Auditors may include client data in audit documentation

• Auditors must not include client data in audit documentation

• Auditors must include client data in audit documentation

Which of the following are benefits that distributed ledger technology (DLT) can provide to auditors in the future?

1. Automated Audit Procedures
2. Improved Audit Trails
3. Permanent Record-Keeping

Multiple Choice

• I and II

• I, II, and III

• II and III

• I and III

Audit techniques that take full advantage of big data offer the potential to improve:

	Audit Efficiency				Audit Effectiveness
a.		Yes				No
b.		No				No
c.		No				Yes
d.		Yes				Yes

Multiple Choice

• Option B

• Option A

• Option D

• Option C