De La Salle University
ACC 510
1. What are audit productivity tools? How do they assist auditors? The audit productivity tools are: ➢ Audit planning and tracking ➢ Documentation and presentations ➢ Communication ➢ Data management, electronic working papers, and groupware ➢ Resource management Auditor productivity tools assist auditors in automating necessary audit f
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1. What are audit productivity tools? How do they assist auditors? The audit productivity tools are: ➢ Audit planning and tracking ➢ Documentation and presentations ➢ Communication ➢ Data management, electronic working papers, and groupware ➢ Resource management Auditor productivity tools assist auditors in automating necessary audit functions and incorporating data gathered during the audit process. Audit productivity tools assesses management effectiveness and resource allocation performance, as well as identifying the most promising areas for productivity improvement. These audits aim to provide management with the knowledge they need to make informed decisions. 2. Describe the following system documentation techniques commonly used to understand financial application systems: a. Data flow diagrams. A data flow diagram (DFD) is a diagram that shows how a system works. A DFD shows the components of a system, data flows between them, and data sources, destinations, and storage. These are used to depict the flow of data in financial data graphically. These diagrams are made up of uniform symbols and notation that are used to rep
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