Different Types of Audits Are Intended for Different Audiences, Such

question 279

Multiple Choice

Different types of audits are intended for different audiences, such as internal, external, regulatory, and so on. Which of the following audits are considered "restricted use" versus being for a more broad audience?

• A) SOC Type 2
• B) SOC Type 1
• C) SOC Type 3
• D) SAS-70

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Definitions:

Strategic risks

Risks that arise from significant shifts in a business environment, threatening the formulation and execution of an organization's strategy.

Business success

The achievement of desired financial and operational goals within a business, often measured by profitability, market share, and customer satisfaction.

Operational

Pertaining to the day-to-day functions and activities necessary for an organization or process to run effectively.

Risk environments

Contexts or situations that expose individuals or organizations to hazards or potential harm related to their activities or decisions.