Audit data analytics (ADA) is effective for _______.
A)identifying general types of misstatements, as well as identifying specific transactions or accounts that are likely to be misstated
B)identifying general types of misstatements only
C)identifying specific transactions or accounts that are likely to be misstated only
D)none of the above

Question

Quizplus · Accepted Answer

ADA is effective in identifying both general types of misstatements and specific transactions or accounts that are likely to be misstated. It can be used to analyze large volumes of data, identify patterns and anomalies, and detect potential errors or fraud. This can help auditors to focus on areas of higher risk and conduct more targeted and efficient audits.

Audit Data Analytics (ADA) Is Effective for _______