I need answer to these MC question please:

12

Which of the following accurately describes audit data analytics?

examination of small datasets to identify patterns, trends, and outliers

method of expanding audit testing to guarantee financial statements are properly presented

examination of large datasets to identify patterns, trends, and outliers

use of manual techniques to examine large datasets to gather audit evidence

13

Ying Ye believes that she will have to employ sophisticated substantive audit procedures for her client. What contributes to this decision?

The nature of the client's accounting system

The availability of an internal auditor to assist in the testing

The complexity of the client's data-capturing systems

None of the above

14

Inherent risk is

the risk of a misstatement occurring irrespective of any internal controls put in place by management.

assessed as low when there are good internal controls in place.

the risk that the auditor's testing procedures will not detect a material misstatement.

assessed as high when there are no internal controls tested or relied upon by the auditor.

15

Which of the following statements is correct?

There is no relation between the auditor's assessed risk of material misstatement and detection risk.

There is an inverse relation between the auditor's assessed risk of material misstatement and detection risk.

If detection risk is low, significant substantive procedures are necessary to reduce the detection risk.

If detection risk is high, few substantive procedures are necessary to reduce the detection risk.

16

The purpose of substantive procedures includes obtaining direct evidence as to

the reasonableness of the estimates and other information in the financial statements.

the completeness, accuracy, and validity of data.

the reasonableness of the estimates and other information in the financial statements and the completeness, accuracy, and validity of data.

none of the above.

17

Substantive testing can be conducted using which of the following procedures?

inquiry

confirmation

analytical review

all of the above

18

Which of the following factors do not influence the extent and timing of substantive procedures to be undertaken?

The level of assistance received from the internal auditor who responds directly to management

Complexity of the audit client's data-capturing system

The nature of the procedures

The audit risk assessment

19

Olaf Kuzino is trying to determine the extent of testing his team will have to perform in order to determine whether controls are working. How will he decide how much testing to perform?

He will utilize statistical sampling.

He will use his professional judgement.

He will use last year's results as a basis for this year's tests.

None of the above.