When a Client Company's Systems Rely Heavily on IT, Auditors

question 44

Multiple Choice

When a client company's systems rely heavily on IT, auditors will be concerned with the possibility that:

• A) unauthorized program changes could result in a system that uniformly processes data in an unauthorized manner.
• B) embedded controls are likely to be circumvented.
• C) risk of material misstatement is likely to increase as the complexity of the client's IT system increases.
• D) specialized IT knowledge on the audit engagement team is not necessary unless the client company engages in electronic commerce.

Identify fraudulent transfers and preferential payments in the context of bankruptcy.

Understand the requirements and eligibility criteria for different types of bankruptcy filings.

Understand the steps and sequence of the tRNA movement across the ribosome during translation.

Identify the role of rRNA in the catalysis of peptide bond formation.

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Definitions:

Three Parts

A division or breakdown of something into three distinct components or sections.

Summarize

The process of condensing a larger piece of content into a shorter version that retains the original material's principal points.

Information

Data, facts, or knowledge provided or learned about something or someone.

Structure

The arrangement of and relations between the parts or elements of something complex.