AUDIT SAMPLING, IT IN AUDIT & CORPORATE GOVERNANCE

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Across
  1. 1. Auditors must _________ the results of the sample and their implications.
  2. 5. Auditors need to address _______responsibilities related to data privacy, confidentiality, and the use of IT in the audit process.
  3. 9. Auditors need to acquire and maintain ______ in using new IT tools and techniques.
  4. 11. Performing Audit _________ on Selected Items
  5. 12. Risk that conclusions based on a sample differ from those of the entire population.
  6. 14. Auditors must ________ the nature and cause of deviations or misstatements.
  7. 16. control IT can be used to implement and monitor ________ more effectively, improving the overall control environment.
  8. 17. IT systems are vulnerable to _______ threats, data breaches, and other security risks that could compromise the integrity of audit evidence.
  9. 18. Application of procedures to less than 100% of items in a population.
  10. 19. Ensures each unit has an equal chance of selection.
Down
  1. 1. IT auditors require specialized knowledge and skills to assess the effectiveness of IT controls and systems.
  2. 2. Auditors must adapt to new technologies, manage increased _________ ___________, and address the associated risks to ensure the integrity and reliability of the audit process.
  3. 3. Ongoing ___________ of IT systems and controls is necessary to ensure their effectiveness and identify potential issues.
  4. 4. Electronic data processing and auditing can reduce the likelihood of _____ in audit work and increase the probability of identifying misstatements.
  5. 6. IT enables auditors to analyze ________ datasets, identify anomalies, and detect potential errors or fraud more effectively.
  6. 7. IT facilitates the shift towards ______ audits, reducing reliance on physical documents and streamlining the audit workflow.
  7. 8. Entire set of data from which a sample is selected.
  8. 10. Generally not recommended due to potential bias in contiguous items.
  9. 13. Sample _____ should be sufficient to reduce sampling risk to an acceptably low level.
  10. 15. ________ are projected for each stratum separately, combining results for overall assessment.Information technology (IT) has significantly transformed the audit process, enhancing efficiency and effectiveness while introducing new challenges.