Technology-based inquiryis advantageous because itoften provides information soonerthan traditional methods, enabling quicker responses to events and issues.
* Benefits of Technology-Based Inquiry:
* Real-Time Data: Enables immediate detection of issues through automated alerts or analytics.
* Broader Coverage: Monitors large volumes of data and activities more efficiently than manual methods.
* Why Other Options Are Incorrect:
* A: Technology-based inquiry complements surveys but does not replace them entirely.
* B: Information analysis is still required, even when gathered through technology.
* C: Technology-based inquiry identifies both favorable and unfavorable events, not just the latter.
References:
* COSO ERM Framework: Highlights the use of technology in monitoring and inquiry processes.
* OCEG GRC Capability Model: Discusses technology-based tools for faster issue detection.