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bert, an experienced auditor at the firm Kravas, used audit data analytics (ADA) to sist in substantive testing for their client, Bobbers, a distributor of fishing items. Robert ed ADA to scan the sales journal for duplicate invoice numbers. Robert noted that from oril 1 - April 15, all invoices were recorded twice. How should Robert react to this ormation? Robert should note results as a notable item. Kravas will need to consider their assessment of the risk of material misstatement for revenue. Accordingly, Kravas may need to update the audit plan t _jncrease testing pertaining to this item. Robert should pass on further analysis of this item. As the misstatement is only 15 out of 365 days (approximately 4\%), it would not impact the decision of financial statement users. Accordingly, further analysis is not deemed necessary and would create an inefficient audit. Robert should quantify this misstatement and compare it to the materiality threshold. If this item is above the materiality threshold, an audit adjustment will need to be made or the audit report will need to be modified. Kravas should also consider the impact this discovery would have on their assessment of internal controls pertaining to sales revenue. None of these answer choices are correct

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