Limitations and concerns surrounding the use of AI in auditing include all the following except Multiple Choice

Fantastic news! We've Found the answer you've been seeking!

Question:

Limitations and concerns surrounding the use of AI in auditing include all the following except Multiple Choice

AI cannot see the big picture and is restricted only to the correct or incorrect data to which it has access.

AI classifies anomalies faster and better than the auditor completing the task manually.

Data integrity could be compromised if appropriate controls are not implemented or operating effectively

AI cannot evaluate moral or ethical concerns

Related Book For answer-question

Ethical Obligations And Decision Making In Accounting Text And Cases

ISBN: 9781264135943

6th Edition

Authors: Steven Mintz

See More Books

Posted Date: Feb 14, 2024 02:35 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
How do AI and machine learning systems differ from the existing data analytic auditing systems like IDEA? Include a discussion of the professions concerns surrounding the use of AI in auditing.
Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...
Find the exact value of sin(x - y) if sin(x) = 3T 3T T
Find equations of the lines that pass through the given point and are (a) Parallel to (b) Perpendicular to the given line. 5x 4y = 8, (3, 2)
Find online the annual 10-K report for Peets Coffee and Tea (PEET) for 2008. Answer the following questions from the income statement: a. What were Peets revenues for 2008? By what percentage did...
We will use the Minitab macro NormNP, or the R function normnp, to nd the posterior distribution of the normal mean when we have a random sample of size n from a normal( , 2 ) distribution with...
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these products require wiring and testing during the assembly process. Each...
(a) Explain four reasons why multinational corporations (MNCs) forecast exchange rates. (b) (4 marks) SPL Limited, a company based in Kenya expects to receive 2 million Euros in one year's time. The...
Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. The following six-column table contains the company's unadjusted trial balance...
1.You want to buy XYZ public company.The company currently has a dividend of $3.12, but has indicated they will increase the dividend by 3.1% each year.You expect an investment return of 9%.How much...
The force shown has magnitude Fp = 20 N and makes an angle of 30 to the ground. Calculate the work done by this force, using the dot product, when the wagon is dragged 100 m along the ground. L. 8 a
Aloha Inc. has 4.1 percent coupon bonds on the market that have 9 years left to maturity. If the YTM on these bonds is 7.5 percent, what is the current bond price? The bond pays coupons twice a year....
The Mintcoin Inc has just paid an annual dividend of 40 cents per share. You forecast that dividends of Mintcoin Inc will grow at the rate of 25% a year over the next four-year period. From year five...
An office building is expected to create operating cash flows of $25,500 a year for three years, based on tenants' rental income. The purchase of the fixed assets for this building will cost $53,000....
Using this information: ASSETS CURRENT ASSETS FEDEX CORPORATION CONSOLIDATED BALANCE SHEETS (IN MILLIONS) May 31, 2022 2021 Cash and cash equivalents 6,897 S 7,087 Receivables, less allowances of...
Identify the sources of law in the United States Assignment Overview: In this writing assignment, you will research specific examples of executive orders (that is, U.S. presidential) orders issued in...
The roof of a refrigerated truck compartment is of composite construction, consisting of a layer of foamed urethane insulation (t2 = 50 mm, ki = 0.026 W/m K sandwiched between aluminum alloy panels...
Sherron Watkins regrets not taking more action back in 1996 when she first concluded that Enrons accounting might not be in accordance with GAAP. Explain how GVV training might have helped her bring...
Assume you are a CPA and the CFO of a large public company. You have identified a red flag that financial impropriety may exist in the reported numbers. Would you report it to the external auditors?...
Helen Roberts is reviewing two transactions recorded by her client, Biotechnologies (Biotech), as part of her accounting firms annual audit of the client for the December 31, 2021, financial...
A library shelving system has a first cost of $\$ 20,000$ and a useful life of 10 years. The annual maintenance is expected to be $\$ 2,500$. The annual benefits to the library staff are expected...
Identify one benefit and one disbenefit that would be realized by the public for the following projects: a. A monument memorializing a particularly unfortunate event b. A public library c. A Web site...
True or False: OMB's Circular No. A-94, Revised is the definitive document for benefit-cost analysis.

Limitations and concerns surrounding the use of AI in auditing include all the following except Multiple Choice

Question:

Expert Answer:

The option that does not represent a limitation or concern surrounding ... View the full answer

Ethical Obligations And Decision Making In Accounting Text And Cases

Students also viewed these accounting questions