Question: When electronic data is obtained from an outside entity, _______. A. the auditor should assume that it is valid and free from error B. the

When electronic data is obtained from an outside entity, _______.

A. the auditor should assume that it is valid and free from error

B. the auditor should assume the data is inaccurate and unreliable

C. the auditor should consider the reliability of the data.

D. it should be referred to management for vetting, before being submitted to the auditor for analysis

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 Accounting Questions!

Q:

Question 13 When electronic data is obtained from an outside entity, _______. A. the auditor should assume that it is valid and free from error B. the auditor should assume the data is inaccurate and...

Q:

If the auditor is performing substantive tests at an interim date, the auditor must perform steps to update their conclusion to the date of the financial statements. Group of answer choices True...

Q:

If the auditor is performing substantive tests at an interim date, the auditor must perform steps to update their conclusion to the date of the financial statements. True False Flag this Question...

Q:

If the auditor is performing substantive tests at an interim date, the auditor must perform steps to update their conclusion to the date of the financial statements. True False Flag this Question...

Q:

answer the following questions PSA 500 pertains to: Group of answer choices a. The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements. b. Quality Control of an Audit of...

Q:

answer the following questions PSA 500 pertains to: Group of answer choices a. The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements. b. Quality Control of an Audit of...

Q:

answer the following questions PSA 500 pertains to: Group of answer choices a. The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements. b. Quality Control of an Audit of...

Q:

I would like assistance with assignment 3 and 4 on the attached document I have been struggling with the subject and its my last AUI4863/102/0/2016 Tutorial letter 102/0/2016 ADVANCED INTERNAL AUDIT...

Q:

I have a question on Liquidity ratios based on a financial statement. Please open the attachments below. INDEPENDENT AUDITORS' REPORT TO PARLIAMENT AND THE SHAREHOLDER OF SOUTH AFRICAN AIRWAYS SOC...

Q:

I have a question on Solvency ratios based on a financial statement. Please open the attachments below. INDEPENDENT AUDITORS' REPORT TO PARLIAMENT AND THE SHAREHOLDER OF SOUTH AFRICAN AIRWAYS SOC...

Q:

Given an advanced sinusoidal wave to the left of the string, with an amplitude of 1.4 cm, a wavelength of 40 cm, and a frequency of 20 Hz. It is known that at time t = 0 at point 0 = x the copy is...

Q:

The following numbers are the differences in pulse rate (beats per minute) before and after running for 12 randomly selected people. 24, 12, 14, 12, 16, 10, 0, 4, 13, 42, 4, and 16 Positive numbers...

Q:

16.18 Another bootstrap distribution of the trimmed mean. Bootstrap distributions and quantities based on them differ randomly when we repeat the resampling process. A key fact is that they do not...

Q:

Shall I book your tour group for Thursday night or Friday night? This is an example of which closing technique? A . closing on an objection B . assuming a sale C . forced - choice question D . pause...

Q:

Why was the response rate so low, and how could this be improved for future surveys? Lisa Harcourt sat at her desk and could not believe the feedback received from the recent employee survey. As HR...

Q:

On an individual basis, access http://excellence.ca/en/awards/2016-cae - recipients/2016-cae-profiles/2016-caeprofile-manulife and review the information about Manulife Financial. What 1 thing about...

Q:

Identify 3-companies that have violated health and safety regulations in your province. Prepare a 1-page summary describing the losses to the organizations in work (hours), the dollar penalties, and...