Benchmarking is an audit strategy that can be used to carry forward the benefit of certain application controls testing into future audit periods.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing current results to past performance as a way to evaluate progress or identify areas for improvement. By using benchmarking as an audit strategy, the auditor can track changes in the effectiveness of application controls over time and use that information to inform future testing and auditing efforts. Therefore, the statement is true.

Benchmarking Is an Audit Strategy That Can Be Used to Carry