INFORMATION TECHNOLOGY AUDITING ACTUAL TEST QUESTIONS AND SOLUTIONS COMPREHENSIVE REVIEW PACKAGE

INFORMATION TECHNOLOGY AUDITING
ACTUAL TEST QUESTIONS AND SOLUTIONS
COMPREHENSIVE REVIEW PACKAGE

●● Internal auditing
Answer: An independent, systematic, disciplined, and objective
assurance and consulting activity designed to add value, improve
organizational effectiveness and efficiency, and accomplish organization
objectives.


●● Financial Audit
Answer: An examination of the reliability and integrity of financial
transactions, accounting records, and financial statements.


●● Information systems audit
Answer: An examination of the general and application controls of an IS
to assess its compliance with internal control policies and procedures
and its effectiveness in safeguarding assets.


●● Operational audit
Answer: An examination of the economical and efficient use of
resources and the accomplishment of established goals and objectives.

, ●● Compliance audit
Answer: An examination of organizational compliance with applicable
laws, regulations, policies, and procedures. These audits oft result in
recommendations to improve processes and controls that ensure
compliance with regulations.


●● Investigative audit
Answer: An examination of incidents of possible fraud, misappropriation
of assets, waste and abuse, or improper governmental activities.


●● Audit Planning
Answer: Determines the why, how, when, and by whom the audit will be
performed.


●● Inherent Risk
Answer: The susceptibility to significant control problems in the absence
of internal control.


●● Control Risk
Answer: The risk that a material misstatement will get through the
internal control structure and into the financial statements.


●● Detection Risk