The Auditor's Role in Systems Development Should Be

question 28

Multiple Choice

The auditor's role in systems development should be

• A)an advisor and developer of internal control specifications.
• B)a developer of internal controls.
• C)that of an independent reviewer only.
• D)A and B above

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Definitions:

Current Liabilities

Obligations a company is required to pay within one year or an operating cycle, whichever is longer.

Due

Referring to an obligation or payment that is expected to be paid or fulfilled by a certain date.

Paid

The status of a financial obligation that has been fulfilled, indicating that no debt remains.

Year

A period of time consisting of 365 days, or 366 in a leap year, used as a basic unit of time to measure durations and align calendars.