When Testing the Effectiveness of Information Technology (IT) General Controls

question 39

Multiple Choice

When testing the effectiveness of information technology (IT) general controls in payroll, the auditor may do any of the following, EXCEPT _______.

• A)collect supporting evidence regarding employee awareness of IT security issues
• B)determine how program access is controlled and monitored
• C)pay attention to the effectiveness of password controls
• D)All of the answer choices are correct.

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Definitions:

Accounted

The process of recording, classifying, and summarizing financial transactions to provide an accurate and complete picture of a business's financial position.

Stock Traded

Shares of ownership in a company that are bought and sold on a stock exchange.

Stockholders' Equity

Stockholders' equity represents the ownership interest of shareholders in a corporation, calculated as total assets minus total liabilities.

Shares

Shares represent units of ownership interest in a corporation or financial asset, providing an entitlement to a portion of the company's profits and assets.