Calgary Chemicals plans to utilize its computers to provide continuous auditing of their financial statements.One obvious benefit of this technology would be:
A)less scrutiny from agencies such as Revenue Canada.
B)to shift financial decision making from human beings to programmed technology.
C)early detection of financial problems.
D)a reduction in the number of accountants required by the firm.

Question

Quizplus · Accepted Answer

Continuous auditing via computer technology allows for real-time monitoring of financial data, which can lead to early detection of any potential financial problems or irregularities. This can allow for corrective action to be taken quickly, potentially saving the company from more serious financial consequences.

Calgary Chemicals Plans to Utilize Its Computers to Provide Continuous