Statement 1: Data sharing and communication of audit procedures and results between auditors of the same team are made possible with the use of word processing, spreadsheet and presentation tools, among others.

Statement 2: Electronic connectivity not only allows auditors to communicate but also provides access for audit clients to exchange information.

Statement 1: An advantage of having a central data repository for auditors is that it enables the saving and availability of past audit planning and documentation procedures such as risk assessment, audit schedules and budget data.

Statement 2: Database applications allows consolidation of data that can be used for future decision making by top management, for example analysis of audit budget vs actual, trend reports, etc.

Use of generalized audit software makes it possible to perform required functions directly on application files. Audit softwares can be used to:

1. Analyze and compare files

2. Conduct random samples

3. Prepare confirmation letters

4. Validation computations

5. Select specific records for examination

Statement 1: Information systems auditor cannot help determine compliance with a particular procedure for operational and financial auditors.

Statement 2: When an information systems auditor reviews the spreadsheets to understand the flow of a process and whether it provides a correct output from the input, (s)he needs to check the accuracy of formulas used.

Auditors use spreadsheets for analyzing data and forming opinions. Spreadsheets are even used or relied on by management for decision making. Which is not a risk that is associated with poor spreadsheet design?

This is a built-in test environment within a system that allows testing of the process for accuracy or reliability.

The following are problem areas in a processing cycle that an audit staff needs to identify:

1. Redundant processing of data

2. Bottlenecks that delay processing

3. Points in the operating cycle where there is lack of review of output reports

The following is an example of a career path for an IT auditor. Find the correct sequence.

1. Senior IT auditor

2. IT audit manager

3. Director of IT audit

4. IT audit staff

5. IT audit trainee

This refers to all training, certification and education that a worker needs to succeed in his or her career.

Which is not true about evaluating IT audit performance?

____________ is an integral part of the audit function because it supports the auditor’s judgment on the quality of computer system.

The following are types of IT audits.

1. Organizational IT audit

2. Technical IT audit

3. Application IT audit

4. Compliance IT audit

____________ is defined as information integrity, the level of confidence and trust that can be placed on the information, and service availability.

If CPA is for accountancy graduates, what is the certification applicable to IT auditors?

This is an area of work or career opportunity where the focus of work is on advising organizations on how to best use information technology in achieving their business objectives.

Effective IT governance can improve organizational performance by

1. Ensuring decisions and investments are aligned with organizational objectives

2. Establishing a framework for managing IT to deliver value to the organization

3. Ensuring adequate internal controls and regulatory compliance

The Board and senior management should be reminded of the value of IT. And that whenever a business process is automated, the effect to the organization is

This provides an overall picture of IT performance aligned to the objectives of the organization. Its is developed by listing the objectives of IT and establishing measurements that track performance against objectives.

IT governance is a relatively new subset of corporate governance that focuses on the management and assessment of strategic IT resources. The key objectives of IT governance are to reduce risk and ensure that investments in IT resources add value to the organization.

Identify the missing words in the following sentence. The purpose of the [?] is to ensure that the organization continually co-creates value with all stakeholders in line with the organization's objectives.

Which guiding principle describes the importance of doing something, instead of spending a long time analyzing different options?

Which guiding principle is PRIMARILY concerned with consumer's revenue and growth?

Which value chain activity ensures people understand the organization's vision?

Which value chain activity includes presenting workarounds to users via a service portal?

Which value chain activity communicates the current status of all four dimensions of service management?

Which guiding principle emphasizes the need to understand the flow of work in progress, identify bottlenecks, and uncover waste?

What is the starting point for optimization?

Governance is the means by which an organization accomplishes two specific goals. One is to direct the organization. According to ITIL 4, what is the second objective of governance?

According to ITIL 4, using the SVS, what do all components and activities of the organization specifically work together to co-create?

Which component is specifically a value output of the service value system?

Which term describes sets of organizational resources designed for performing work or accomplishing an objective?

Which ITIL concept describes governance

Which describes the nature of the guiding principles?

Which is a key consideration for the guiding principle 'keep it simple and practical'?

1.Which of the following best describes COBIT?

2. What is the primary difference between Governance System Principles and Governance Framework Principles?

3. “A governance system should be customized to the enterprise’s needs, using a set of design factors as parameters to customize and prioritize the governance system components” is an example of which Governance System Principle?

4. A governance or management objective always relates to _____ and a series of related components of other types to help achieve the objective.

5. Which of the following is NOT a component of the governance system?

6. ______________ are factors that can influence the design of an enterprise’s governance system and position it for success in the use of I&T.

7. Which of the following is a design factor for a governance system that supports prioritization of management objectives based on prioritization of enterprise goals?

8. Governance ________ are factors that, individually and collectively, contribute to the good operations of the enterprise’s governance system over I&T and were known as enablers in COBIT 5.

9. Which two levels of involvement does COBIT 2019 identify within the updated RACI chart?

10. Which Governance or Management Objective has the following purpose statement?

“Realize defined project outcomes and reduce the risk of unexpected delays, costs and value erosion by improving communications to and involvement of business and end users. Ensure the value and quality of project deliverables and maximize their contribution to the defined programs and investment portfolio.”

What is risk identification?

Why is risk identification important in risk management?

What are the common methods used for risk identification?

What is the purpose of risk identification?

What are the key steps involved in risk identification?

What are the benefits of conducting risk identification?

What are the challenges faced during the risk identification process?

How can risk identification help in decision-making?

What are the limitations of risk identification?

What are some examples of risks that can be identified in a business environment?