ITA Audit Planning & Methodology 2

Question 1

Which audit methodology step involves evaluating whether internal controls are designed properly to mitigate identified risks?

Accepted Answer

Design effectiveness assessment

Answer

Design effectiveness assessment evaluates whether controls are structured appropriately to address the risks they are intended to mitigate.

Question 2

What distinguishes 'operating effectiveness testing' from 'design effectiveness assessment' in an IT audit?

Accepted Answer

Design assessment determines if a control is properly structured; operating effectiveness testing determines if it actually functions as designed

Answer

Design assessment checks whether the control is properly structured to mitigate risk, while operating effectiveness testing determines if the control actually works as designed over a period of time.

Question 3

In an IT audit, 'sampling' is used primarily to:

Accepted Answer

Test a representative subset of a population to draw conclusions about the whole

Answer

Audit sampling allows auditors to test a representative portion of a large population and draw reasonable conclusions about all items in that population.

Question 4

Which type of audit evidence is generally considered most reliable?

Accepted Answer

Evidence obtained directly by the auditor through observation or independent confirmation

Answer

Evidence obtained directly by the auditor through independent observation, recalculation, or external confirmation is considered most reliable because it is not subject to manipulation by the auditee.

Question 5

What is the purpose of a 'walkthrough' procedure in an IT audit?

Accepted Answer

To trace a transaction from initiation through completion to confirm understanding of the process and controls

Answer

A walkthrough traces a transaction from beginning to end to confirm the auditor's understanding of the process flow and the controls that operate at each step.

ITA - Information Technology Auditing Certification Practice Test

ITA - Information Technology Auditing Certification Practice Test

ITA Audit Planning & Methodology 2