An internal auditor uses a predefined macro provided in a popular spreadsheet application to verify the present value of the organization's investments. Which of the following is the most appropriate course of action regarding the auditor's use of this functionality?
To ensure the accuracy and reliability of the auditor's work, performing a manual recalculation of several results is essential. This step allows the auditor to validate that the macro is functioning correctly and producing accurate results. Relying solely on the macro without verification might lead to undetected errors or incorrect assumptions. Proper documentation of these manual recalculations also adds credibility to the auditor's work and findings.
I don't agree with B. It should be C. If a spreadsheet has a macro that generally means the calculations are tough or complicated to be done manually. To just check the macro and whether or not it has been applied correctly should be enough
Why is it B and not C? 1- A macro can be used because of the quantity of data and not its complexities 2- It is not sure that the auditor will be competent to analyze the macro (this could also be time consuming) 3- The auditor is interested in a reliable result. By testing the data fields, the auditor can know if the macro functionalities are acceptable.
" to verify the present value of the organization's investments" can be achieved via manual re-performance