Perhaps the Most Striking Fact About Natural Disasters in Relation

question 40

Multiple Choice

Perhaps the most striking fact about natural disasters in relation to AIS controls is that

• A)many companies in one location can be seriously affected at one time by a disaster.
• B)losses are absolutely unpreventable.
• C)there are a large number of major disasters every year.
• D)disaster planning has largely been ignored in the literature.

---

Definitions:

IASB's Accounting Standards

The set of principles and guidelines developed by the International Accounting Standards Board that are intended to bring transparency, accountability, and efficiency to international financial markets and reporting.

Mandatory Reporting

The legal requirement for companies and organizations to disclose certain information in their annual reports or other government filings.

Corporate Sustainability

A business approach that creates long-term stakeholder value by implementing strategies that focus on the ethical, social, environmental, cultural, and economic dimensions of doing business.

Potential Interests

Interests or rights that might affect an entity's control or influence over another entity or asset without currently holding a formal interest or stake.