Podcast
Questions and Answers
Which phase of the audit focuses on evaluating whether transactions or events have been handled effectively and efficiently?
Which phase of the audit focuses on evaluating whether transactions or events have been handled effectively and efficiently?
- System built-in controls
- Substantive Testing (correct)
- Test of Controls
- Control Risk Assessment
What is the purpose of the Test of Control phase in an IT environment?
What is the purpose of the Test of Control phase in an IT environment?
- To evaluate the effectiveness of controls in preventing or detecting material misstatements (correct)
- To evaluate the efficiency of the system
- To assess the maximum level of control risk
- To determine whether a control is working
Which cycle is NOT included in the Test of Control phase?
Which cycle is NOT included in the Test of Control phase?
- Expenditure cycle
- Production cycle (correct)
- Revenue and collection cycle
- Financing and investing cycle
What is the purpose of the Substantive Test phase in an audit?
What is the purpose of the Substantive Test phase in an audit?
Which assertion is NOT evaluated in the Substantive Test phase?
Which assertion is NOT evaluated in the Substantive Test phase?
What does CR stand for in the context of audit risk assessment?
What does CR stand for in the context of audit risk assessment?
What is the relationship between control risk and detection risk?
What is the relationship between control risk and detection risk?
Which phase of the audit is the most expensive?
Which phase of the audit is the most expensive?
What does NTE stand for in the context of Substantive Testing?
What does NTE stand for in the context of Substantive Testing?
What is the purpose of the Test of Control phase in an audit?
What is the purpose of the Test of Control phase in an audit?
Which of the following statements is true about IT Audit?
Which of the following statements is true about IT Audit?
What does CAATs stand for?
What does CAATs stand for?
Which certification is subject to ethics and guidelines that impose professionalism in the auditor's duties?
Which certification is subject to ethics and guidelines that impose professionalism in the auditor's duties?
What are the steps involved in IT Audit planning?
What are the steps involved in IT Audit planning?
What does CISA stand for?
What does CISA stand for?
What is the purpose of reviewing an organization's policies, procedures, and structure in IT Audit planning?
What is the purpose of reviewing an organization's policies, procedures, and structure in IT Audit planning?
What do CAATs and CAATTs allow auditors to do?
What do CAATs and CAATTs allow auditors to do?
What is the significance of modern information systems in IT Audit?
What is the significance of modern information systems in IT Audit?
What is the main characteristic of IT Audit?
What is the main characteristic of IT Audit?
What does ATSI stand for in IT Audit steps?
What does ATSI stand for in IT Audit steps?
