What Could Result from the Failure to Audit and Terminate

question 11

Multiple Choice

What could result from the failure to audit and terminate unused accounts in a timely manner?

• A)A disgruntled employee may send out phishing emails.
• B)A SOC 1 report will be generated.
• C)Computer hardware may be taken off premises.
• D)A disgruntled employee may tamper with company applications.

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Definitions:

Restrictive Indorsement

A limitation placed on the transfer of a negotiable instrument, such as a check, which specifies the conditions under which it can be further negotiated.

Merchants Bancorp

An American banking company involved in providing banking and financial services.

Holder In Due Course

A person who acquires a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims.

Assignee

The party to whom rights or property are transferred in an agreement.