Test Your Auditing Knowledge
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Questions and Answers

Which of the following areas is not typically audited when auditing a financial reporting system?

  • iv. System change controls
  • ii. The time required to generate the financial statement (correct)
  • i. User list and corresponding access rights of such system
  • iii. Approval flow and approval matrix for posting an accounting journal

    • Which of the following areas would likely be audited when you are auditing a financial reporting system?

  • iii. Approval flow and approval matrix for posting an accounting journal (correct)
  • iv. System change controls
  • i. User list and corresponding access rights of such system
  • ii. The time required to generate the financial statement

    • Which of the following areas is audited when auditing a financial reporting system?

  • iii. Approval flow and approval matrix for posting an accounting journal
  • i. User list and corresponding access rights of such system
  • iv. System change controls (correct)
  • ii. The time required to generate the financial statement

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