The Objective of Understanding Internal Control and Assessing Control Risk

question 36

Multiple Choice

The objective of understanding internal control and assessing control risk in an IT system is to:

• A) aid in determining the audit evidence that should be accumulated.
• B) evaluate management's efficiency in designing and using the IT system.
• C) gain an understanding of the computer hardware and software.
• D) determine if the audit firm must have an IT auditor on the team.

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Definitions:

Managerial Level

A level within an organization that pertains to managers who are responsible for strategic decision-making and operational oversight.

Categories of Skills

Different classifications or groups of skills, including technical, interpersonal, cognitive, and emotional skills, relevant to various tasks and contexts.

Specific Types

Distinct or particular categories within a broader classification.

Taxonomy

A systematic classification and organization of things, especially in science, based on their characteristics and relationships.