What Is the Purpose of an Information Systems Audit

question 7

Multiple Choice

What is the purpose of an information systems audit?

• A) to determine the inherent risk factors found in the system
• B) to review and evaluate the internal controls that protect the system
• C) to examine the reliability and integrity of accounting records
• D) to examine whether resources have been used in an economical and efficient manner in keeping with organization goals and objectives

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Definitions:

Classified

In finance, this term usually refers to the segregation or categorization of items within financial statements or reports to enhance clarity and understanding.

Minority Ownership

A holding of less than 50% of the voting shares in a company, which does not provide control over the company's operations.

Corporate Investor

An entity, typically a company, that invests its resources in other companies, either to gain strategic advantages or financial returns.

IFRS

International Financial Reporting Standards; a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to standardize financial reporting globally.