Which of the following best describes MONITORING in a system of internal control?Group of answer choicesEach day, the IT department reviews all logins that have failed with the wrong password more than 3 timesThe business requires all staff to log on using 2 factor authenticationThe business has purchased software applications that are interconnected and produce reports combining multiple source of informationThe business has systems that identify changes in prices of inventory and when it fluctuates wildly, they get a notificationManagement work in key front line roles once every 6 months to better understand their employees and customers
Question
Which of the following best describes MONITORING in a system of internal control?Group of answer choicesEach day, the IT department reviews all logins that have failed with the wrong password more than 3 timesThe business requires all staff to log on using 2 factor authenticationThe business has purchased software applications that are interconnected and produce reports combining multiple source of informationThe business has systems that identify changes in prices of inventory and when it fluctuates wildly, they get a notificationManagement work in key front line roles once every 6 months to better understand their employees and customers
Solution
The best description of MONITORING in a system of internal control from the given choices is: "Each day, the IT department reviews all logins that have failed with the wrong password more than 3 times".
This is because monitoring in a system of internal control refers to the process of tracking, reviewing, and regulating the operational processes and procedures within an organization. In this case, the IT department is actively monitoring the system by reviewing failed login attempts. This helps to identify any unusual or suspicious activity, which could indicate a potential security breach or system misuse.
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