Audit data analytics (ADA)_______.
A)is effective not only for identifying general types of misstatements, but is also capable of identifying specific transactions or accounts that are likely to be misstated
B)is effective only for identifying general types of misstatements
C)is only capable of identifying specific transactions or accounts that are likely to be misstated
D)is effective neither at identifying general types of misstatements or capable of identifying specific transactions or accounts that are likely to be misstated

Question

Quizplus · Accepted Answer

Audit data analytics (ADA) is effective not only for identifying general types of misstatements, but it is also capable of identifying specific transactions or accounts that are likely to be misstated. ADA uses advanced technology and techniques to analyze large volumes of data quickly and efficiently, allowing auditors to identify patterns and anomalies that may be indicative of fraud, errors, or other issues. This can help auditors to focus their efforts on areas that are most likely to be problematic, leading to more effective and efficient audits.

Audit Data Analytics (ADA)_______