Generalized audit software is effective for substantive procedures,but not for tests of controls.

Question

Quizplus · Accepted Answer

This statement is not entirely true. Generalized audit software can be effective for tests of controls, especially when the controls are automated and can be tested using computer-based procedures. However, it is true that generalized audit software is primarily used for substantive procedures, such as testing the accuracy and completeness of transactions and account balances.

Generalized Audit Software Is Effective for Substantive Procedures,but Not for Tests