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What is the population being analyzed and tested using ADA

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Reference no: EM133120633

Question - You are auditing Cromartie Technologies, Inc. (CTI). CTI is a manufacturer of various computer technologies and works hard on bringing new technologies to market. CTI has approximately 5,000 customers and some customers have multiple locations. On average, CTI sells its inventory every 40 days, and it takes approximately 60 days to collect receivables. CTI has also experienced a high degree of competitiveness and technological obsolescence. The company has found that the average product life is between 8 and 18 months.

Answer the following questions:

1. Identify a potential application for ADA in the audit of CTI. Explain the account and the assertion(s) tested by the application.

2. What is the population being analyzed and tested using ADA?

3. Explain the ADA application that is planned and how it will contribute to the evaluation of the assertion being audited.

4. Explain the role of business acumen in the application of ADA.

Reference no: EM133120633

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