Question

11) Choose one area of IT Audit. Define the audit objectives of this area. Identify the associated risks. Design 2 tests of controls to test the audit objective and describe the audit evidence that the auditor would seek to collect to support the objective. What if the necessary evidence could not be obtained? How would the auditor proceed?

Answer 1

External Auditor: The most well-known sort of evaluator is the outside examiner. He is approached to go to an organization or organization and lead a review as per administrative standards. An outer inspector is required to lead an unprejudiced supposition and present an autonomous report.

He directs the review once per year and he has no association with the organization. Crafted by outer examiners is critical and he is liable to the speculators and government bodies.

An outside reviewer may need to speak with the interior inspectors yet they are not affected by the inside evaluators. An External evaluator may likewise need to facilitate with different offices, for example, innovation or activities on the off chance that he is doing a division focussed review.

Objective

The target of an outside review of budget reports is to decide if, in the evaluator's supposition, the announcements present decently in every single material regard - that is, they show a valid and reasonable view in every single material regard of the organization's monetary position, aftereffects of activities, and incomes.

*1)Controls to be Tested. In the event that the inspector intends to survey control chance at not exactly the most extreme by depending on controls,and the nature, timing, and degree of arranged meaningful methodology depend on that lower appraisal, the evaluator must acquire proof that the controls chose for testing are structured successfully and worked viably during the whole time of dependence. In any case, the evaluator isn't required to survey control chance at not exactly the most extreme for every pertinent statement and, for an assortment of reasons, the inspector may decide not to do as such.

2)Also, trial of controls must be acted in the review of budget reports for each significant statement for which meaningful methodology alone can't give adequate suitable review proof and when important to help the reviewer's dependence on the exactness and fulfillment of monetary data utilized in performing other review strategies.

In case, if necessary evidence of not obtain in such case there is no simbol of fraud.For example, ordinarily more evidence is needed to respond to significant risks.

How autiting is proceed:-

Stage 1: Define Audit Objectives. Before the review, AMAS conducts a primer arranging and data gathering stage.

Stage 2: Audit Announcement.

Stage 3: Audit Entrance Meeting.

Stage 4: Fieldwork.

Stage 5: Reviewing and Communicating Results.

Stage 6: Audit Exit Meeting

Stage 7: Audit Report.