Discuss what is involved in creating test data
Auditors must prepare a complete set of both valid and invalid transactions that test every possible input error, logical process and irregularity. While it can take a considerable amount of time, the efficiency of the task can be improved through careful planning during system development. The auditor should save test data used during the implementation phase for future use. When applications are modified, additional test data can be created that focus on the area of the program changes.
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The ________ of an employment test is indicated by the extent to which the test scores relate to actual job performance.
A. reliability B. validity C. utility D. dependability E. generalizability
Cost accounting differs from financial accounting in that financial accounting:
a. Is mostly concerned with external financial reporting. b. Is mostly concerned with individual departments of the company. c. Provides the additional information required for special reports to management. d. Puts more emphasis on future operations.
Both public accountants and management accountants are required to adhere to a code of professional conduct
Indicate whether the statement is true or false
Cost of handling alone accounts for ______.
a. 20% to 25% of total logistics costs b. 20% to 25% of total manufacturing costs c. 12% to 15% of total logistics costs d. 12% to 15% of total manufacturing costs