What Are the Three Key Internal Control Concerns for Managers

question 63

Essay

What are the three key internal control concerns for managers and auditors regarding ERP roles?

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Definitions:

Trojan Horse

A malicious software that misleads users about its true intent, typically creating a backdoor in a computer system.

Virus

Malicious software that can attach itself to (or “infect”) other computer programs without the owner of the program being aware of the infection.

Intellectual Property

The intangible property created by individuals or corporations, which is protected under trade secret, patent, and copyright laws.

Statutory Grant

A legal mechanism through which government agencies provide funds to organizations, typically for specified purposes, under the authority of law.