Which of the following best describes the AICPA's Audit Data Standards (ADS)?
A)The base level of testing procedures that should be performed on AIS data.
B)A set of analytic procedures designed to be used with modern ERPs' large datasets.
C)A set of standards for data files and fields designed to support external audits.
D)The codification of all auditing guidelines pertaining to the data generated by AISs.

Question

Quizplus · Accepted Answer

The AICPA's Audit Data Standards (ADS) are a set of standards for data files and fields designed to support external audits. These standards provide a common language and structure for auditors to use when accessing and analyzing data from various sources, including ERP systems. They are not a base level of testing procedures or the codification of all auditing guidelines pertaining to the data generated by AISs.

Which of the Following Best Describes the AICPA's Audit Data