The purpose of a _____ is to safeguard assets, optimize the use of the organization’s resources and prevent or detect errors or fraud.

Question

The purpose of a  _____ is to safeguard assets, optimize the use of the organization’s resources and prevent or detect errors or fraud.

BlackTom AI · Accepted Answer

The question asks about a term whose purpose is to safeguard assets, optimize the use of the organization’s resources, and prevent or detect errors or fraud.
Option 1: 'firewall' — While a firewall is a crucial technical control for protecting information systems from external threats, it does not encompass safeguarding assets broadly, optimizing resource use, or detecting all types of errors or fraud across the organization. It is a specific security mechanism rather than a general internal control framework.
Option 2: 'compromise' — This term refers to a failure or breach, not a safeguard or mechanism intended to prevent issues. It is the opposite of a control and does not describe a protective mechanism.
Option 3: 'control' — This is the correct concept. Internal controls are policies, procedures, and routines designed to safeguard assets, ensure efficient use of resources, and provide assurances about the accuracy and reliability of financial reporting, including the prevention and detection of errors or fraudulent activity.
Option 4: 'risk evaluation' — This describes the process of assessing risks, not the protective mechanism itself. While risk evaluation informs which controls are needed, it is not the implementer of safeguards or the action that directly prevents or detects issues.
Thus, the most appropriate term that matches all parts of the description is 'control'.

BUSI_V 335 101 102 2025W1 BUSI 335 - Midterm 1 - 2025W1 - Requires Respondus LockDown Browser

The purpose of a _____ is to safeguard assets, optimize the use of the organization’s resources and prevent or detect errors or fraud.

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