Final answer:
The use of information technology generally reduces the paper trail, makes it easier to alter data, affects the fundamental manner of transactions, and may reduce the number of controls to be tested due to automation and digital systems.
Step-by-step explanation:
The question addresses how the use of information technology affects business operations and controls. Specifically, information technology:
- Generally reduces the paper trail as businesses move towards digital record-keeping,
- Makes it easier to alter data due to the digital nature of records,
- Affects the fundamental manner in which transactions are conducted as digital technologies change the way businesses operate, and
- May reduce the number of controls to be tested because automated systems can handle certain controls consistently.
Moreover, the automation of the workplace and advancements in telecommunications have led to shifts in firm sizes, job markets, and the ease of managing long-distance economic relationships. The impact of new information technologies such as the Internet, GPS, or GIS is considerable, changing how firms grow and operate on a global scale.