What Is a Set of Best Practices That Helps an Organization

question 95

Multiple Choice

What is a set of best practices that helps an organization to maximize the benefits of an information system, while at the same time establishing appropriate controls to ensure minimum errors?

• A)COBIT
• B)CASE
• C)IEEE
• D)All of the above

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Definitions:

General Accounting Procedures

The standardized methods and practices used by accountants to prepare, present, and report financial statements.

Accounting Practices

The systematic process of recording, reporting, and analyzing financial transactions of a business, according to established conventions, principles, and standards.

Financial Accounting Standards Board

An independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States.

Certified Public Accountants

Licensed professionals who offer financial services such as auditing, tax preparation, and financial planning, and must adhere to professional standards.