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NEW QUESTION: 1
An IS audit team is planning to rely on a system-generated report to reduce the substantive procedures they will need to perform. Which of the following procedures should the IS auditor perform to verify the completeness of the report?
A. Establish some criteria for expected results and compare to actual results.
B. Test data for appropriateness.
C. Validate the report query.
D. Trace a sample of transactions to the internal transactions.
Answer: B

NEW QUESTION: 2

A. Option C
B. Option D
C. Option A
D. Option B
Answer: B

NEW QUESTION: 3
Billy is the project manager of the PQW Project and she has an assigned project budget of $655,000.
Currently she is 80 percent complete with the project though she was scheduled to be 100 percent done by this date. She has spent $490,000 to date and other than the project schedule, which was delayed because of a vendor, the project is going well. What should Billy report as her schedule performance index for this project?
A. $524,000
B. 1.23
C. .80
D. 100 percent because the vendor caused her lateness
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target. You can find the planned value by multiplying where Billy should be in the project, 100 percent, by the project's budget. In this instance the planned value is $655,000 because she is to be 100 percent complete.
Incorrect Answers:
A: 1.23 is the cost performance index for the project.
B: The SPI simply reports a value not an explanation.
D: $524,000 is the earned value for the project.

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