Learn the key facts about applying generalized audit software, including data access, analysis capabilities, customization needs, and independence from IT, to ace IIA-CIA-Part2 certification.
Table of Contents
Question
Which of the following statements is true regarding the application of generalized audit software?
A. Obtaining access to relevant and reliable data is usually easy; however, importing the data into generalized audit software is typically a challenge
B. Although generalized audit software enables internal auditors to rely less on judgmental sampling, analysis of large quantities of data is still a challenge
C. Using generalized audit software to perform audit tasks in different software and hardware environments requires considerable customization
D. Generalized audit software enables internal auditors to perform tests on data independently of the organization’s IT personnel
Answer
The following statement is true regarding the application of generalized audit software:
D. Generalized audit software enables internal auditors to perform tests on data independently of the organization’s IT personnel
Explanation
Generalized audit software (GAS) is a powerful tool that allows internal auditors to access, analyze, and test data on their own, without relying on the assistance of the organization’s IT department. This independence is a key benefit of GAS.
The other statements are not accurate:
A) While importing data into GAS can sometimes be challenging, obtaining access to relevant and reliable data in the first place is often the more difficult hurdle for auditors to overcome.
B) One of the main advantages of GAS is that it allows auditors to easily analyze large datasets. GAS makes it possible to test full data populations rather than just samples.
C) A strength of GAS is that it can be used across different software/hardware environments without extensive customization. Most GAS tools are flexible and compatible with common data formats.
In summary, the key benefit of generalized audit software is that it empowers internal auditors to independently access and analyze data using automated tests and full population sampling. This boosts audit efficiency and effectiveness while reducing reliance on the IT department.
IIA-CIA-Part2 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the IIA-CIA-Part2 exam and earn IIA-CIA-Part2 certification.