As an accounting professional, you have been tasked with conducting an examination of the accounting information systems (AIS) implemented within a fictional company, ABC Corporation. The purpose of this examination is to assess the effectiveness, efficiency, and reliability of the AIS in supporting the company's financial reporting and internal control processes. The examination will be conducted in a structured manner, following a series of steps and procedures. The reports that will be produced will be used by management to make meaningful decisions, therefore the information must be useful.

Before your examination, you are required to discuss the SEVEN (7) characteristics that make information useful AND the THREE (3) objectives of good information. (20 marks)