A well-prepared flowchart should make it easier for the auditor to:
A)prepare audit procedure manuals.
B)prepare detailed job descriptions.
C)perform walkthroughs.
D)assess the degree of accuracy of financial data.

Question

Quizplus · Accepted Answer

A flowchart is a visual representation of a process or system. It can help the auditor understand the sequence of steps involved in a process and identify potential weaknesses or areas where controls may be necessary. This can make it easier for the auditor to perform walkthroughs, which involve tracing a transaction from its origination through the organization's information system and accounting records to its final disposition. While a well-prepared flowchart may also be useful in preparing audit procedure manuals, it is not the most direct benefit of using one. Detailed job descriptions are not typically created from flowcharts, and assessing the degree of accuracy of financial data would require other audit procedures.

A Well-Prepared Flowchart Should Make It Easier for the Auditor