Which of the following is true of generalized audit software packages?
A)They can be used only in auditing online computer systems.
B)It involves auditing while data is being processed.
C)They can be used to examine an entire population and eliminate the need for sampling.
D)They enable the auditor to perform all manual test procedures less expensively.

Question

Quizplus · Accepted Answer

Generalized audit software packages can be used to examine an entire population and eliminate the need for sampling. This is because they can process large volumes of data quickly and accurately, allowing the auditor to test all transactions or records within a population. Option A is incorrect because generalized audit software can be used for both online and offline systems. Option B is incorrect because auditing while data is being processed refers to continuous auditing, which is a different concept than using generalized audit software. Option D is incorrect because while generalized audit software can reduce the time and cost of performing audit procedures, it cannot replace all manual test procedures.

Which of the Following Is True of Generalized Audit Software