Final answer:
Auditors are least likely to use generalized audit software to identify material weaknesses in an entity's IT controls. This software is primarily for data analysis, information access, and computation accuracy tests, whereas IT controls assessment needs more specialized tools.
Step-by-step explanation:
The auditor is least likely to use generalized audit software to identify material weaknesses in the entity's IT controls. Generalized audit software is typically designed to analyze large quantities of data, access information stored in various forms on the entity's IT systems, perform analytical procedures and test the accuracy of computations. Identifying material weaknesses in IT controls often requires a more specialized approach, which may include manual procedures combined with IT-specific assessment tools, rather than generalized audit software.
In the United States, the likelihood of a citizen's taxes being audited has decreased, particularly among high-income individuals, due to the federal government allocating fewer resources to tax enforcement activities. This implies that the ability of auditors to use resources, including software, efficiently in their work is more important than ever for maintaining the integrity of financial information and tax systems.