Some key issues to consider when planning an audit data analytics application are:
A)What financial statement items, accounts or disclosures and related assertions are being audited?
B)What is the overall purpose of the audit data analytics application and how will it contribute to the balance of the audit? For example, is audit data analytics being used as a risk assessment procedure or as a substantive test?
C)What audit data analytics tool is best suited for the audit purpose? For example, which techniques, tools, graphics, tables or other analytical techniques should be used.
D)All these answer choices are correct.

Question

Quizplus · Accepted Answer

All of the choices listed are important considerations when planning an audit data analytics application. A comprehensive approach should take into account the financial statement items, accounts, or disclosures being audited, the overall purpose of the application, and the appropriate tool or technique to use. By carefully considering these factors, auditors can maximize the effectiveness and efficiency of their audit procedures, resulting in a more robust and accurate audit opinion.

Some Key Issues to Consider When Planning an Audit Data