According to IIA Guidance on IT, Which of the Following

question 141

Multiple Choice

According to IIA guidance on IT, which of the following would be considered a primary control for a spreadsheet to help ensure accurate financial reporting?

• A) Formulas and static data are locked or protected.
• B) The spreadsheet is stored on a network server that is backed up daily.
• C) The purpose and use of the spreadsheet are documented.
• D) Check-in and check-out software is used to control versions.

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Definitions:

Acquisitive Firms

Companies that focus on growth through acquisitions, buying other companies to increase their market share, diversify their products, or gain other strategic advantages.

Conglomerate Mergers

The union of companies, which are involved in totally unrelated business activities, to diversify or expand their operations.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests in the company.

Best Interest

Acting with primary regard for someone's benefits and well-being, often used in a fiduciary or advisory context.