The auditor's objective in determining whether the client's computer program correctly processes valid and invalid transactions is accomplished through the
A) test data approach.
B) generalized audit software approach.
C) microcomputer-aided auditing approach.
D) generally accepted auditing standards.
A
You might also like to view...
The span of control should be smaller and the number of levels of management should be larger when:
A. The salespeople in the company are well paid and professional B. The salespeople in the company are new inexperienced recruits C. The sales task is relatively simple D. The profit impact for the performance of each individual salesperson is low E. The sales job is defined as easy by the people hired to sell
Brett's, Inc is a national distributor of women's apparel. The company expects to receive 95,000 checks during
the coming year totaling $78 million. A large bank has offered to install a lock-box system at a charge of $0.45 per processed check. If Brett's, Inc is able to earn 5 percent before tax on additional funds, what is the minimum amount of total float days that must be saved to make the system worthwhile? Use a 365-day year.