AUDITING A PRACTICAL APPROACH
WITH DATA ANALYTICS 2ND EDITION
RAYMOND JOHNSON LAURA DAVIS WILEY
ROBYN MORONEY TEST BANK
CERTIFICATION REVIEW SET 2026
ANSWERS GUARANTEED PASS
⫸ What are the main types of audit analytics? Answer: Rules-Based
Analysis, Statistical Analysis, Visual Analytics, Text Analytics, AI &
Machine Learning, Process Mining & RPA, Time Series Analysis,
Clustering.
⫸ What is Rules-Based Analysis? Answer: Uses predefined
conditions/thresholds to detect fraud or noncompliance.
⫸ What does Benford's Law analyze? Answer: Unusual digit patterns in
financial data.
⫸ What is the purpose of Visual Analytics? Answer: To use dashboards
and graphs for risk assessment and detailed analysis.
⫸ How does Text Analytics function in auditing? Answer: Analyzes
unstructured data using Natural Language Processing (NLP) to detect
suspicious communications.
,⫸ What is the role of AI & Machine Learning in audit analytics?
Answer: Automates detection of patterns, predicts risks, and enhances
audit accuracy.
⫸ What does Process Mining do? Answer: Maps workflows to find
inefficiencies.
⫸ What is Robotic Process Automation (RPA)? Answer: Handles
repetitive audit tasks automatically.
⫸ What is Time Series Analysis used for? Answer: Tracks data trends
over time using methods like moving averages or ARIMA.
⫸ What is the purpose of Clustering in audit analytics? Answer: Groups
data using techniques like K-Means or DBSCAN.
⫸ How can analytics be applied in the audit process? Answer: In
planning & risk assessment, internal control evaluation, substantive
testing, fraud detection, and regulatory compliance.
⫸ What is the significance of the analytics mindset? Answer: Enables
informed, data-driven decisions and improves problem-solving and
efficiency.
⫸ What are key responsibilities of a Business Analyst in auditing?
Answer: Gathering business requirements, managing stakeholder
,communication, designing data-driven solutions, analyzing data, and
managing change.
⫸ Which programming languages are commonly used in audit
analytics? Answer: Python, R, SQL.
⫸ What is Tableau used for? Answer: Creating data visualization
dashboards.
⫸ What is the purpose of Alteryx in audit analytics? Answer: ETL
(Extract, Transform, Load) and data preparation.
⫸ What is the function of UiPath? Answer: Automates repetitive
processes.
⫸ What are substantive analytical procedures? Answer: Analyze
relationships between financial and non-financial data to find anomalies.
⫸ What are Tests of Details? Answer: Examine specific transactions or
balances for accuracy and legitimacy.
⫸ What factors influence the extent of substantive testing? Answer:
Risk level, internal controls, and materiality thresholds.
⫸ What is an example of a visual analytic method for revenue cut-off?
Answer: Line chart of invoice vs. shipment dates.
, ⫸ What is the purpose of predictive analytics in auditing? Answer:
Forecast future risks and trends.
⫸ What does a heatmap detect in audit analytics? Answer: Excess
discounts.
⫸ What is the use of regression analysis in auditing? Answer: To test
expected vs. actual commissions and identify key drivers of profit.
⫸ What is the role of descriptive analytics in auditing? Answer:
Analyzes historical data for trends and anomalies.
⫸ What is the key question addressed by diagnostic analytics? Answer:
Why did it happen?
⫸ What is the primary use of prescriptive analytics? Answer: To
determine how to make a desired outcome happen.
⫸ What is the primary goal of a financial statement audit? Answer: To
communicate results and issue an audit opinion.
⫸ What analytics tool can visualize findings for management during an
audit? Answer: Tableau dashboards.
WITH DATA ANALYTICS 2ND EDITION
RAYMOND JOHNSON LAURA DAVIS WILEY
ROBYN MORONEY TEST BANK
CERTIFICATION REVIEW SET 2026
ANSWERS GUARANTEED PASS
⫸ What are the main types of audit analytics? Answer: Rules-Based
Analysis, Statistical Analysis, Visual Analytics, Text Analytics, AI &
Machine Learning, Process Mining & RPA, Time Series Analysis,
Clustering.
⫸ What is Rules-Based Analysis? Answer: Uses predefined
conditions/thresholds to detect fraud or noncompliance.
⫸ What does Benford's Law analyze? Answer: Unusual digit patterns in
financial data.
⫸ What is the purpose of Visual Analytics? Answer: To use dashboards
and graphs for risk assessment and detailed analysis.
⫸ How does Text Analytics function in auditing? Answer: Analyzes
unstructured data using Natural Language Processing (NLP) to detect
suspicious communications.
,⫸ What is the role of AI & Machine Learning in audit analytics?
Answer: Automates detection of patterns, predicts risks, and enhances
audit accuracy.
⫸ What does Process Mining do? Answer: Maps workflows to find
inefficiencies.
⫸ What is Robotic Process Automation (RPA)? Answer: Handles
repetitive audit tasks automatically.
⫸ What is Time Series Analysis used for? Answer: Tracks data trends
over time using methods like moving averages or ARIMA.
⫸ What is the purpose of Clustering in audit analytics? Answer: Groups
data using techniques like K-Means or DBSCAN.
⫸ How can analytics be applied in the audit process? Answer: In
planning & risk assessment, internal control evaluation, substantive
testing, fraud detection, and regulatory compliance.
⫸ What is the significance of the analytics mindset? Answer: Enables
informed, data-driven decisions and improves problem-solving and
efficiency.
⫸ What are key responsibilities of a Business Analyst in auditing?
Answer: Gathering business requirements, managing stakeholder
,communication, designing data-driven solutions, analyzing data, and
managing change.
⫸ Which programming languages are commonly used in audit
analytics? Answer: Python, R, SQL.
⫸ What is Tableau used for? Answer: Creating data visualization
dashboards.
⫸ What is the purpose of Alteryx in audit analytics? Answer: ETL
(Extract, Transform, Load) and data preparation.
⫸ What is the function of UiPath? Answer: Automates repetitive
processes.
⫸ What are substantive analytical procedures? Answer: Analyze
relationships between financial and non-financial data to find anomalies.
⫸ What are Tests of Details? Answer: Examine specific transactions or
balances for accuracy and legitimacy.
⫸ What factors influence the extent of substantive testing? Answer:
Risk level, internal controls, and materiality thresholds.
⫸ What is an example of a visual analytic method for revenue cut-off?
Answer: Line chart of invoice vs. shipment dates.
, ⫸ What is the purpose of predictive analytics in auditing? Answer:
Forecast future risks and trends.
⫸ What does a heatmap detect in audit analytics? Answer: Excess
discounts.
⫸ What is the use of regression analysis in auditing? Answer: To test
expected vs. actual commissions and identify key drivers of profit.
⫸ What is the role of descriptive analytics in auditing? Answer:
Analyzes historical data for trends and anomalies.
⫸ What is the key question addressed by diagnostic analytics? Answer:
Why did it happen?
⫸ What is the primary use of prescriptive analytics? Answer: To
determine how to make a desired outcome happen.
⫸ What is the primary goal of a financial statement audit? Answer: To
communicate results and issue an audit opinion.
⫸ What analytics tool can visualize findings for management during an
audit? Answer: Tableau dashboards.
