Podcast
Questions and Answers
True or false: IT Audit focuses on the computer-based aspects of an organization's information system.
True or false: IT Audit focuses on the computer-based aspects of an organization's information system.
True
True or false: IT Audit is not risk-based.
True or false: IT Audit is not risk-based.
False
True or false: CAATs and CAATTs allow auditors to view audit trails that are typically invisible to people.
True or false: CAATs and CAATTs allow auditors to view audit trails that are typically invisible to people.
True
True or false: CISA stands for Certified Information Systems Auditor.
True or false: CISA stands for Certified Information Systems Auditor.
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True or false: IT Audit steps include Audit Planning, Test of Controls, Substantive Testing, and Issuance of Audit Report.
True or false: IT Audit steps include Audit Planning, Test of Controls, Substantive Testing, and Issuance of Audit Report.
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True or false: Audit Planning involves conducting preliminary arrangements with the client and reviewing the organization's policies, procedures, and structure.
True or false: Audit Planning involves conducting preliminary arrangements with the client and reviewing the organization's policies, procedures, and structure.
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True or false: General Controls and application controls are reviewed during Audit Planning.
True or false: General Controls and application controls are reviewed during Audit Planning.
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True or false: IT Audit is not concerned with the use of CAATs or CAATTs.
True or false: IT Audit is not concerned with the use of CAATs or CAATTs.
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True or false: IT Audit evaluates the processes of an organization's information system.
True or false: IT Audit evaluates the processes of an organization's information system.
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True or false: IT Audit is not associated with auditors who use technical skills and knowledge to audit through the computer system.
True or false: IT Audit is not associated with auditors who use technical skills and knowledge to audit through the computer system.
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True or false: The auditor may decide to assess control risk at the maximum level for all assertions.
True or false: The auditor may decide to assess control risk at the maximum level for all assertions.
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True or false: Test of Controls (TOC) focuses on both the design and operation aspects of the internal control structure.
True or false: Test of Controls (TOC) focuses on both the design and operation aspects of the internal control structure.
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True or false: Test of Control (TOC) procedures include inquiries of client personnel, inspection of documents and records, observation of specific policies and procedures, and reperformance of specific policies and procedures.
True or false: Test of Control (TOC) procedures include inquiries of client personnel, inspection of documents and records, observation of specific policies and procedures, and reperformance of specific policies and procedures.
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True or false: Test of Transactions (TOT) evaluates whether transactions or events have been handled effectively and efficiently.
True or false: Test of Transactions (TOT) evaluates whether transactions or events have been handled effectively and efficiently.
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True or false: Substantive testing is the most expensive phase of the audit.
True or false: Substantive testing is the most expensive phase of the audit.
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True or false: Substantive test aims to substantiate management's assertion relative to presentation and disclosure, existence or occurrence, rights and obligations, completeness, and valuation.
True or false: Substantive test aims to substantiate management's assertion relative to presentation and disclosure, existence or occurrence, rights and obligations, completeness, and valuation.
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True or false: The nature, timing, and extent of substantive testing depend on the auditor's assessed level of control risk and detection risk.
True or false: The nature, timing, and extent of substantive testing depend on the auditor's assessed level of control risk and detection risk.
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True or false: If the control risk is assessed at the maximum level, the auditor does not need to perform any Test of Controls (TOC) and can proceed directly to Substantive Testing (ST).
True or false: If the control risk is assessed at the maximum level, the auditor does not need to perform any Test of Controls (TOC) and can proceed directly to Substantive Testing (ST).
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True or false: A disclaimer of opinion means that the auditor is unable to reach an opinion.
True or false: A disclaimer of opinion means that the auditor is unable to reach an opinion.
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True or false: An adverse opinion means that the auditor concludes that the financial statements are materially misstated.
True or false: An adverse opinion means that the auditor concludes that the financial statements are materially misstated.
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