Exam (elaborations)
ACIS 5654 Final Questions And Answers Latest Update
- Course
- ACIS 5654
- Institution
- Virginia Tech
ACIS 5654 Final Questions And Answers Latest Update
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Solution 2024/2025Pepper
ACIS 5654 Final Questions And Answers Latest
Update
Most innovation is lead by ____ _____ because they have a better
understanding of the organization ANS✔✔ Internal Auditors
Internal Auditors use analytics to improve _____ and ______ ANS✔✔ efficiency
and effectiveness
Increasing global regulation means auditors must provide _____ ____ ANS✔✔
Enhanced Assurance
Apply analytics in operation ____ and internal controls ANS✔✔ inefficiencies
_____ ERP Systems are easier to work with because ______ ANS✔✔
Homogeneous; location of key data is known
Firm data in _____ ERP systems require a systems translation machine and
mapping and is usually the result of ______ ANS✔✔
Heterogeneous;Acquisitions
ACIPA's Audit Data Standards ANS✔✔ Identify common tables and fields
needed for audit analytics
Base ANS✔✔ Master data and formats
, Solution 2024/2025
Pepper
General Ledger ANS✔✔ chart of accounts and GL detail
Order to Cash Subledger ANS✔✔ orders and receivables from customers
Proceure to Pay Subledger ANS✔✔ purchases and payments to suppliers
Inventory Subledger ANS✔✔ Location and on hand
The standardized audit plan identifies: (5) ANS✔✔ Methodology
Scope
Risk
Procedures
Evaluation
Metholodology ANS✔✔ guided by specific standards, such as PCAOB audit
standards or COSO
Scope ANS✔✔ defines the parameters and limits placed on the audit, such
as how much and for how long
Procedures ANS✔✔ identified during the planning phase to evaluate areas of
high risk
Evaluation ANS✔✔ may in some instances be instilled into risk scores and
alerts
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