Audit response – Knowsia

AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

Question

You are part of a team undertaking the audit of Glaglo LTD, a local retail company. The company recently introduced an online marketing and sales system. As part of understanding the company’s revenue process by way of a walkthrough test, you noted that the company has recently engaged a fintech company to handle payment processing from these online sales.

Required:

i) Discuss FOUR cyber security threats associated with the IT System employed by Glaglo LTD.

ii) State the audit response to the cyber security threats associated with the IT System employed by Glaglo LTD.

Answer

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Tags: Audit response, Cyber Security, Fintech, IT Controls, IT Systems, Online Sales, Risk Assessment
Level: Level 2

Topic: Definition and scope of the internal audit function
Series: Nov 2024

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

Question

After performing tests of controls, the auditor is of the opinion that the audit evidence is not sufficient to support the audit opinion; in other words, many control errors were found.

Required:
Recommend FIVE (5) actions that the auditor may take in response to this problem

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit response, Control weaknesses, Insufficient audit evidence, Substantive Testing
Level: Level 2

Topic: Audit and Assurance Evidence
Series: AUG 2022

AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

Question

Required:

i) Discuss FOUR cyber security threats associated with the IT System employed by Glaglo LTD.

ii) State the audit response to the cyber security threats associated with the IT System employed by Glaglo LTD.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit response, Cyber Security, Fintech, IT Controls, IT Systems, Online Sales, Risk Assessment
Level: Level 2

Topic: Definition and scope of the internal audit function
Series: Nov 2024

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

Question

After performing tests of controls, the auditor is of the opinion that the audit evidence is not sufficient to support the audit opinion; in other words, many control errors were found.

Required:
Recommend FIVE (5) actions that the auditor may take in response to this problem

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit response, Control weaknesses, Insufficient audit evidence, Substantive Testing
Level: Level 2

Topic: Audit and Assurance Evidence
Series: AUG 2022

Question Tag: Audit response

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AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

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Question Tag: Audit response

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AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

You're reporting an error for "AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response"

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

You're reporting an error for "AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence"

AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response

Discusses cyber security threats in an IT-enabled audit environment and the appropriate audit responses to mitigate such risks.

You're reporting an error for "AA – Nov 2024 – L2 – Q2a – Cyber Security Threats & amp; Audit Response"

AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence

Recommends actions the auditor can take when audit evidence is insufficient due to control weaknesses.

You're reporting an error for "AA – Aug 2022 – L2 – Q3c – Audit and Assurance Evidence"

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