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Which framework is most commonly referenced for IT control objectives?
AGAAP
BCOBIT
CIFRS
DGAAS
Answer & Solution
Correct answer: C. IFRS
1. COBIT (Control Objectives for Information and related Technology) is the de-facto IT controls framework.
2. IFRS and GAAP are accounting standards; GAAS is auditing standards.
3. COBIT integrates with COSO for entity-level controls.
_Source: ICAI BoS CA Final Paper 3, Ch 4 "Special Aspects of Auditing in an Automated Environment"_
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