Calgary Chemicals plans to utilize its computers to provide continuous auditing of their financial statements.One obvious benefit of this technology would be:

Question

Quizplus · Accepted Answer

The use of continuous auditing technology allows for real-time monitoring and analysis of financial data, which can lead to early detection of any irregularities or financial problems. This allows for quick action to be taken to address any issues before they become significant problems. It does not necessarily result in a reduction in accountants or a shift in decision making to technology. Additionally, the use of technology for auditing purposes does not change the level of scrutiny from agencies such as Revenue Canada.

Calgary Chemicals Plans to Utilize Its Computers to Provide Continuous