It is important that the auditor use various data analytics techniques in testing the entire population of fixed assets and related depreciation.

Question

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Using various data analytics techniques can help the auditor to perform a more effective and efficient audit of fixed assets and related depreciation. It allows the auditor to test the entire population of fixed assets and related depreciation, identify anomalies or irregularities, and validate the accuracy and completeness of the underlying data. This can enhance the overall quality and reliability of the audit evidence and help the auditor to form a well-supported opinion on the financial statements.

It Is Important That the Auditor Use Various Data Analytics