12 Questions
What information must be documented in the audit documentation for each engagement according to AS 1215?
Auditor independence and staff training
What does the Y-axis represent on a Benford distribution graph?
Percentage of numbers starting with a specific leading digit
What is the primary risk that verifying the existence of robust patch management processes is focused on mitigating in an IaaS environment?
System Vulnerabilities
Who is responsible for the physical security of data centers where cloud services are hosted?
Cloud Provider
What does a significant deviation from the expected Benford distribution in a set of vendor invoices suggest?
Further investigation is warranted to understand the cause of the deviation
What is the most suitable application for analysis with Benford's Law?
A list of employee salaries within a department
What type of report will an auditor issue when evaluating the design and implementation of controls over financial reporting?
SOC 1 Type II
What does CAM stand for in financial audit?
Critical Audit Matter
What is the typical shape of a graph representing the distribution of leading digits in accordance with Benford's Law?
A downward sloping curve
What is the primary mission of the PCAOB?
To oversee the audits of public companies and protect investors
Who is primarily responsible for the configuration and maintenance of the database that stores customer data in a SaaS application?
The cloud provider
What type of audit report is issued when there are significant and pervasive misstatements found in the financial statements?
Adverse Opinion
Test your knowledge of auditing concepts, including AS 1215 requirements and Benford distribution analysis. Learn how to identify red flags and anomalies in financial data.
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