30 Questions
What is one benefit of using Artificial Intelligence in banking apps for credit scoring?
More accurate assessment of potential borrowers
How does AI credit scoring differ from traditional credit scoring systems?
AI uses more complex rules
In what way is AI disrupting financial institutions in personal finance applications?
By providing financial advice and collecting personal data
What is the main purpose of JPMorgan Chase's Contract Intelligence (COiN) platform?
To leverage Natural Language Processing for extracting data from legal documents
How does Wells Fargo use AI in customer communication?
Through an AI-driven chatbot on Facebook Messenger
What aspect of the banking industry does IBM Watson contribute to?
Home buying process
What is the main goal of blockchain interoperability?
To improve information sharing across diverse blockchain networks
Why is processing power and time a challenge in blockchain ecosystems?
Because encryption algorithms need to run at varying speeds
How does blockchain handle storage in a decentralized manner?
By storing ledgers on nodes themselves, leading to increased size over time
What is a critical consideration when implementing a blockchain-based solution?
Having an adequate governance framework and management oversight
Why do some smart devices face challenges with ledger storage in blockchains?
Because they have very low storage capacity
What role does management oversight play in ensuring blockchain technology aligns with strategic objectives?
It provides assurance that strategic objectives are not affected by blockchain risks
What does the updated ISA Course 3.0 include?
E-learning, live case studies, lab manuals, project work, and classroom lectures
Which new module has been added to the updated ISA Course 3.0?
Emerging Technology and Audit
Who are the individuals appreciated for their contributions in the updated course?
Dr. Onkar Nath, CA Anand Prakash Jangid, Mr. N.D. Kundu
What is one of the new topics covered in the 'Emerging Technology and Audit' module?
Assurance in Block chain Ecosystem
What resources are included in the DVD provided with the updated course?
E-learning lectures, PPTs, case studies, DEMO CAAT software
What specific content related to technology has been introduced in the new modules?
Artificial Intelligence and Internet of Things (IoT)
What is one of the main limitations of public cloud computing mentioned in the text?
Loss of organization autonomy
Which cloud computing model allows end users to access a shared pool of resources on-demand without owning them?
Infrastructure as a Service (IaaS)
What does IaaS stand for in the context of cloud computing?
Infrastructure as a Service
How does IaaS change the computing infrastructure according to the text?
It shifts from physical to virtual infrastructure
Which of the following is an example of Infrastructure as a Service (IaaS) provider mentioned in the text?
Amazon Web Services (AWS)
What does Cloud Computing enable end users to access without needing to purchase or own?
Shared pool of resources
What is one of the additional areas of review for auditors in cloud computing?
Reviewing the organization's cloud strategy
Why is it important for audit teams to be knowledgeable about the differences in cloud computing services?
To apply the right approach for effective audit coverage
What should auditors have a clear understanding of in relation to cloud services?
The technology boundary between organization and cloud
Which type of audits are performed by Cloud Service Providers?
Periodical audits related to high-risk issues
Why should the existing audit risk assessment process be flexible in the context of cloud services?
To differentiate between ranges of cloud services used
How does cloud computing impact business IT services according to the text?
It increases security concerns that need planning
Explore the updated ISA Course 3.0 offering training on auditing information systems, IS assurance, and consulting assignments with a mix of e-learning, case studies, lab manuals, and project work. Dive into best practices, standards, frameworks, and guidelines for effective IS audits.
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