ISA 3212 Quiz No. 1.3

What is the audit universe?

• A list of all the potential research and development projects of an organization

• A list of all the potential customers of an organization

• A list of all the potential marketing strategies of an organization

• A list of all the potential audit areas within an organization

What is COBIT?

• A set of generally accepted IT practices or control objectives

• A set of generally accepted marketing practices

• A set of generally accepted human resources practices

• A set of generally accepted finance practices

What are the five principles of COBIT 5?

• IT needs of internal stakeholders, governance of information and related technology, integrated framework, holistic governance, and separation of governance from management objectives

• IT needs of internal and external stakeholders, governance and management of information and related technology, integrated framework, holistic governance and management, and separation of governance from management objectives

• IT needs of internal and external stakeholders, management of information and related technology, integrated framework, holistic governance and management, and separation of governance from management

• IT needs of external stakeholders, management of information and related technology, integrated framework, holistic management, and separation of governance from management objectives

What is the significance of risk assessment to the audit function?

• It assists in developing marketing strategies

• It assists in developing the process for planning individual audits

• It assists in developing human resources policies

• It assists in developing financial statements

What are the steps recommended by NIST for a risk assessment?

• Identify assets, define vulnerabilities, determine likelihood, assign magnitude of impact, associate assets with risks, compute risk rating, recommend controls

• Identify liabilities, define vulnerabilities, determine likelihood, assign magnitude of impact, associate assets with risks, compute risk rating, recommend controls

• Identify assets, define vulnerabilities, determine probability, assign magnitude of impact, associate assets with risks, compute risk rating, recommend controls

• Identify assets, define vulnerabilities, determine likelihood, assign magnitude of impact, associate assets with risks, compute risk rating, recommend changes

What is the objective of audit planning?

• To optimize the use of marketing resources

• To optimize the use of human resources

• To optimize the use of audit resources

• To optimize the use of financial resources

What does the scope of an audit define?

• The area(s) to be reviewed

• The area(s) to be marketed

• The area(s) to be managed

• The area(s) to be developed

What is the purpose of the preliminary review phase of an IT audit engagement?

• To gather an understanding of the financial environment and controls in place

• To gather an understanding of the marketing environment and controls in place

• To gather an understanding of the IT environment and controls in place

• To gather an understanding of the human resources environment and controls in place

What is the purpose of substantive testing in an IT audit?

• To determine the accuracy and completeness of the human resources policies being generated by a process or application

• To determine the accuracy and completeness of the information being generated by a process or application

• To determine the accuracy and completeness of the marketing strategies being generated by a process or application

• To determine the accuracy and completeness of the financial statements being generated by a process or application

What should audit results include?

• A description of financial findings, conclusions, and recommendations

• A description of marketing findings, conclusions, and recommendations

• A description of audit findings, conclusions, and recommendations

• A description of human resources findings, conclusions, and recommendations