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 well-prepared flowchart should make it easier for the auditor to perform walkthroughs. Walkthroughs are the process performed by the auditor to understand and evaluate the design and effectiveness of controls over financial reporting. Flowcharts can assist in identifying the different steps in a process and the controls in place to ensure accuracy and completeness of data. However, flowcharts alone cannot be used to assess the degree of accuracy of financial data or prepare detailed job descriptions or audit procedure manuals.

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