A bank performed minor changes to the interest calculation computer program. Which of the following techniques would provide the STRONGEST evidence to determine whether the interest calculations are correct?
A bank performed minor changes to the interest calculation computer program. Which of the following techniques would provide the STRONGEST evidence to determine whether the interest calculations are correct?
The strongest evidence to determine whether the interest calculations are correct would be parallel simulation using audit software. This technique allows for the comparison of results from the modified program against reliable control results from the audit software, thereby providing a high level of assurance in the accuracy of the calculations.
Parallel simulation provides a powerful method for validating the accuracy of interest calculations by allowing you to compare the results of a modified program with those of an unmodified program, providing objective evidence based on actual calculation results.