LEAD-AUDITOR · Question #391
EquiBank is undergoing an external audit of its financial management system. The auditors evaluate the logic of transactions processed by EquiBank's financial software. To ensure accuracy, they use si
The correct answer is C. Data test. Data test techniques simulate transactions within financial software to verify logic, calculations, and programmed controls. ISO 19011:2018 recognizes CAATs as audit tools that validate data processing integrity.
Question
EquiBank is undergoing an external audit of its financial management system. The auditors evaluate the logic of transactions processed by EquiBank's financial software. To ensure accuracy, they use simulations to validate operations, calculations, and controls programmed in the software applications. What type of Computer-Assisted Audit Technique (CAAT) is used?
Options
- APlotting and cartography software applications
- BUtility software
- CData test
How the community answered
(45 responses)- A18% (8)
- B11% (5)
- C71% (32)
Explanation
Data test techniques simulate transactions within financial software to verify logic, calculations, and programmed controls. ISO 19011:2018 recognizes CAATs as audit tools that validate data processing integrity.
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