ITA Audit Planning & Methodology 3

Question 1

Which IT audit standard or framework is most commonly used by IT auditors to structure their work?

Accepted Answer

ISACA's ITAF (IT Assurance Framework)

Answer

GAAP (Generally Accepted Accounting Principles)

Answer

ISO 9001 Quality Management Standard

Answer

PCI DSS Payment Card Industry Standard

Question 2

What is the role of an 'audit universe' in IT audit planning?

Accepted Answer

It is a comprehensive inventory of all auditable entities, systems, and processes within the organization

Answer

It defines all the audit software tools available to the team

Answer

It lists all external auditors certified to perform IT audits

Answer

It contains all historical audit findings and remediation plans

Question 3

In IT audit methodology, what is the purpose of establishing 'audit criteria'?

Accepted Answer

To define the standards or benchmarks against which audit evidence will be evaluated

Answer

To identify which auditors are qualified to perform the audit

Answer

To set the timeline for audit report distribution

Answer

To list all control deficiencies identified in prior audits

Question 4

Which concept describes combining multiple types of audit procedures to reduce overall audit risk?

Accepted Answer

Audit triangulation

Answer

Inherent risk limitation

Answer

Substantive-only approach

Answer

Single-method validation

Question 5

What should an IT auditor do if the scope of an audit needs to change after the engagement has begun?

Accepted Answer

Formally document and communicate the scope change to management and obtain approval

Answer

Continue with the original scope without notifying anyone

Answer

Terminate the audit and restart from the planning phase

Answer

Only change scope if the external auditor requests it

Question 6

Why is an 'entrance conference' conducted at the start of an IT audit fieldwork phase?

Accepted Answer

To formally introduce the audit team, confirm scope, logistics, and set expectations with the auditee

Answer

To present the final audit report to management

Answer

To review previous audit findings for recurring issues

Answer

To obtain written confessions of control violations

Question 7

In IT audit planning, 'inherent risk' refers to:

Accepted Answer

The risk that exists in an IT environment before any controls are applied

Answer

The risk that audit procedures will fail to detect a material error

Answer

The risk introduced by the audit team's own procedures

Answer

The risk of losing audit documentation after fieldwork