Auditing Chapter 1 - Assurance Services on Information Technology

Internal auditors are usually independent consultants hired by a company.

Compliance audits are not typically performed by internal auditors.

CPAs are required to pass four sections of the CPA examination.

Tax auditors are responsible for addressing internal control within a company.

The Institute of Internal Auditors is the national organization of internal auditors.

CPA candidates are not required to have any practical experience to become certified.

Tax auditors primarily focus on developing fraud risk profiles and assessing the adequacy of company systems in preventing fraud.

Internal auditors assess security risks and controls over data stored electronically, including backup adequacy.

CPA requirements involve compliance audits to ensure adherence to trading policies and procedures.

Compliance with entertainment royalty agreements is an example of an assurance service.

Internal controls relate to evaluating the adequacy of environmental audits.

Differentiating the three main types of audits is a learning objective in CPA requirements.

WebTrust is an attestation service that evaluates and tests system reliability in areas such as security and data integrity.

SysTrust is primarily concerned with evaluating processing integrity and availability.

Online privacy is not one of the principles for WebTrust and SysTrust services.

Certification authorities are considered in both WebTrust and SysTrust services.

Controls over and risks related to investments are typically assessed as part of WebTrust and SysTrust services.

Compliance audits are a common scope of work for both WebTrust and SysTrust services.