10/14/22, 7:26 PM Mock Test - Data Analytics

Mock Test - Data Analytics Total points 11/11

Email

yadavitt@gmail.com

Name

Yada Vittayabandit

Country

Thailand

1. Which of the following steps will be taken first to carry out data 1/1
analytics?

A. A review of the results/conclusion by a qualified person

B. Determining the data's adequacy and accuracy

C. The requirement to capture and collect data

D. Determining the analytics targets and range

Feedback

Answer: D. Determining the analytics targets and range

Explanation: The first step will be determining the objectives and the scope of
analytics followed by Option C, Option B, and Option A.

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2. The prime benefit of the usage of CAAT is: 1/1

A. It is very useful in the case of a complex environment or processes

B. It ensures the independence of auditors while capturing the relevant data

C. It provides reliability for the source of information and thus reassurance on

the audit findings

D. It is a cost-effective method for audit activities

Feedback

Answer: C. It provides reliability for the source of information and thus

reassurance on the audit findings
Explanation: The most important aspect will be the reliability of the information.
The other aspects are important but not as important as Option C.

3. Which of the following is a prime consideration when using CAAT? * 1/1

A. To ensure the integrity of imported data by safeguarding its authenticity,

integrity, and confidentiality

B. To obtain approval for installing the CAAT software on the auditee servers

C. To provide access to CAAT to trained and experienced auditors only

D. To only use a licensed version of CAAT

Feedback

Answer: A. To ensure the integrity of imported data by safeguarding its

authenticity, integrity, and confidentiality
Explanation: The most important aspect will be to ensure the authenticity,
integrity, and confidentiality of the data. The others are important aspects but not
as important as Option A.

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4. The best way to determine the proper functioning of the system 1/1
calculation is:

A. To verify the existence of the segregation of duties

B. Use of CAATs to perform substantive testing

C. To interview the process owner

D. To obtain post-change approval from management

Feedback

Answer: B. Use of CAATs to perform substantive testing

Explanation: Substantive testing using CAATs will be the best way to ensure that
calculations are performed correctly by the system.

5. The best audit method when an audit trail is required is: 1/1

A. SCARF

B. CIS

C. Audit hooks

D. Snapshots

Feedback

Answer: D. Snapshots
Explanation: The snapshots technique captures snaps or pictures of the
transaction as it is processed at different stages in the system. Details are
captured both before the execution and after the execution of the transaction. The
correctness of the transaction is verified by validating the before-processing and
after-processing snaps of the transactions. Snapshot is useful when an audit trail
is required.

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6. An important feature of ITF is: 1/1

A. Testing is done on live data

B. Setting up a separate test environment/test process is not required

C. As a continuous audit tool, ITF reviews the continuous operation of the system

D. ITF does not require test data

Feedback

Answer: B. Setting up a separate test environment/test process is not required

Explanation: A fictitious entity is created in the live environment. There is no
need to create separate test processes as a live environment is used.

7. ITF is best used for: 1/1

A. The verification of system processing

B. The verification of system integration

C. The generation of test data

D. The continuous auditing of system data

Feedback

Answer: A. Technique to verify system processing

Explanation: In the ITF technique, a test transaction is entered. The processing
results of the test transaction are compared with the expected results to
determine the accuracy of the processing. If the processed results match the
expected results, then it determines that processing is happening correctly.

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8. The best continuous auditing technique for the early detection of 1/1
errors or irregularities is:

A. SCARF

B. ITF

C. CIS

D. Audit hooks

Feedback

Answer: D. Audit hooks

Explanation: In the audit hook technique, a code is embedded into the
application systems to review the selected transactions. The audit team can act at
the earliest possible time before an error or an irregularity comes out of hand.
They have low complexity in the design of criteria and are also very useful for
the early identification of fraud or an error.

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9. The best auditing tool to capture transactions as per the predefined 1/1
criteria is:

A. Embedded Audit Modules (EAMs)

B. CIS

C. SCARF

D. Audit hooks

Feedback

Answer: B. CIS
Explanation: CIS is useful for identifying the transactions as per the predefined
criteria in a complex environment. CIS replicates or simulates the processing of
the application system. In this technique, the simulator identifies transactions as
per the predefined parameters. Identified transactions are then audited for
correctness. CIS decides whether any errors exist between the results it produces
and those that the application system produces. If any discrepancies are noted,
they are written to the exception log file. Audits hooks will not be able to
concentrate on detailed criteria as they are of low complexity and focus only on
specific conditions when identifying transactions for review. ITF is used to
validate system processing by entering test data into the system.

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10. An important feature of ITF is: 1/1

A. An ongoing review of the actual transactions

B. The generation of test data

C. The results of the test transaction are compared with the predetermined
results to validate the system processing

D. Analyzing a large range of information

Feedback

Answer: C. The results of the test transaction are compared with the predetermined
results to validate the system processing
determine the correctness of system processing
Explanation: In the ITF technique, a test transaction is entered. The processing
results of the test transaction are compared with the expected results to
determine the accuracy of the processing. If the processed results match the
expected results, then it determines that the processing is happening correctly.

11. The best technique to identify excess inventory for the previous year 1/1
is:

A. Analyzing the test data

B. Generalized audit software

C. CIS

D. ITF

Feedback

Answer: B. Generalized audit software

Explanation: The IS auditor could design suitable tests to identify excess
inventory using generalized audit software. The test information would not be
relevant here as the actual data will need to be audited. ITF and EAM cannot
identify errors for a previous period.

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