IS Audit Knowledge Quiz

Which of the following is the PRIMARY objective of a control self-assessment (CSA)?

• To shift some control monitoring responsibilities to functional areas

• To reduce control costs associated with a specific function

• To improve the audit rating process

• To create cohesive teams through employee involvement

Who should be the FIRST to evaluate an audit report prior to issuing it to the project steering committee?

• IS audit manager

• Business owner

• Audit committee

• Project sponsor

Which of the following sampling methods is MOST appropriate when assessing a population to focus on specific risk areas?

• Attribute

• Judgmental

• Statistical

• Stop-or-go

Which of the following is the MOST efficient way to identify fraudulent activity on a set of transactions?

• Control self-assessments (CSAs)

• Regression analysis

• Interviews with control owners

• Benford's law analysis

Which of the following is MOST important to consider when determining the usefulness of audit evidence?

• Competence of the IS auditor

• Timing of the evidence

• Nature of evidence gathered

• Overall objectives of the review

What is the BEST course of action?

• Outsource the audit to independent and qualified resources.

• Have a senior IS auditor manage the project with the IS audit manager performing final review.

• Manage the audit since there is no one else with the appropriate experience.

• Transfer the assignment to a different audit manager despite lack of IT project management experience.

Which of the following is the PRIMARY goal of a control self-assessment (CSA)?

• To have business process owners take initiative in monitoring controls

• To have the auditor take responsibility for designing controls

• To replace the internal audit function

• To make the business aware of the purpose of internal audit

Which of the following should be the role of the internal audit team for this program?

• Advise management on the self-assessment process.

• Design testing procedures for management to assess process controls effectively.

• De-scope business processes to be covered by CSAs from future audit plans.

• Perform testing to validate the accuracy of management's self-assessment.

Which of the following BEST represents the scope of the auditor's role in the program?

• The auditor should focus on improving process productivity.

• The auditor's presence replaces the audit responsibilities of other team members.

• The auditor should perform detailed audit procedures.

• The auditor should act as a program facilitator.

Which of the following methodologies would provide the MOST reliable conclusions?

• Compliance testing

• Judgmental sampling

• Data analytics testing

• Variable sampling