When You Receive a Text Message That There Is a Problem

question 13

True/False

When you receive a text message that there is a problem with your bank account and you are required you to click on a link to submit some information, you are likely seeing a vishing attack.

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Definitions:

Prior Period Adjustment

Adjustments made to a company's financial statements to correct errors or misstatements in previously issued financial reports.

Retained Earnings Balance

The amount of net earnings left in a company after dividends have been paid out to shareholders, which is used for reinvestment in the business or to pay down debt.

Audit Committee

A subcommittee of the board of directors responsible for overseeing and ensuring the integrity of financial reports and compliance with legal and regulatory requirements.

Internal Audit Staff

A department or team within a company that conducts independent evaluations of its operations, controls, and compliance with laws and regulations.