IS ELEC 1-MIDTERM

 It is a type of auditing that examines whether the IT system is in line with the objectives and have been implemented effectively.

• Controls Review

• Financial Systems Auditing

• Performance Audit of IT Systems

Identify what type of IT audit is associated with evaluating whether users have appropriate access levels to critical systems and data.

• Controls Review

• Financial Systems Auditing

• Performance Audit of IT Systems  

You are investigating unusual financial transactions that could indicate fraudulent activity. Which type of audit are you conducting?

•  Security Audit

• Developing System Audit

•  Forensic Audit

•  CAATs Audit

Which type of audit you will conduct if you were asked to examine the audit trails in the financial system to ensure that all transactions are recorded and can be traced.

• Security Audit

• Developing System Audit

• Forensic Audit

• CAATs Audit

Which of the following is an example of forensic IT audit findings?

• system performance and uptime were evaluated

• unauthorized access and potential data breaches were identified

• compliance with IT policies and regulations were assessed

• efficiency of IT operations and resource utilization were reviewed.

Which of the following is an example of forensic controls review IT audit findings?

• Evaluation of user satisfaction with IT services

• Identification of vulnerabilities in system configurations that could be exploited

• Assessment of compliance with industry standards

• Review of IT budget allocation and spending

What is the primary goal during the planning phase of an IT audit?

•  Implementing control mechanisms

•  Assessing audit results

• Developing an audit plan

• Monitoring compliance

Which of the following activities is typically performed during the risk assessment phase of an IT audit?

•  Identifying and prioritizing risks

• Implementing new software

•  Conducting exit interviews

•  Reviewing financial statements

During the fieldwork phase of an IT audit, which activity is most likely to occur?

• Setting audit objectives

• Conduct interviews and test controls

•  Preparing the final audit report

• Conducting a risk assessment

After the IT audit report is issued, what is the next step auditors should take?

• Start a new audit cycle

• Ignore the previous findings

• Conduct a follow-up to ensure corrective actions are taken

• Develop new IT policies