An Audit Is an Important Part of Any Control System

question 105

Multiple Choice

An audit is an important part of any control system.Which of the following is not a question that would typically be asked as part of an information systems audit?

• A)Are there sufficient controls in the system? Which areas are not covered by controls?
• B)Are the controls effective and implemented properly?
• C)What is the ROI associated with system controls?
• D)Are there procedures to ensure reporting and corrective actions in case of violations of controls?

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Definitions:

Principal

The original sum of money borrowed in a loan, or the amount of the loan outstanding at any given time, excluding any interest.

Compound Interest

Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.

Principal

The original sum of money borrowed in a loan, or the initial amount of investment, excluding any interest or dividends.

Maturity Value

The amount that will be received at the maturity date of an investment, including the principal and any accrued interest.