From the course: CISA Cert Prep: 1 Auditing Information Systems for IS Auditors
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IS audit considerations
From the course: CISA Cert Prep: 1 Auditing Information Systems for IS Auditors
IS audit considerations
- (narrator) Alright, let's talk about some considerations for audits. So, audit risk is the risk that you're either incomplete in your audit or that it contains errors in some way. Now this produces incorrect results and leads you to draw incorrect conclusions, and that's what trickles up to management in the report. It's bad data, and really auditing is all about giving management a real snapshot of what's going on, so that they can have their finger on the pulse of a business process or an organization. Now, remember there are four ways to handle risk or treat risk or manage risk. We can mitigate it or reduce it by putting some kind of countermeasure or control in place. We can accept it, as long as it's within our acceptable risk level. We can avoid it by stopping doing it all together. Or we can try and transfer it by typically buying some insurance or contractually obligating somebody else to be responsible for it. Transferring risk isn't something we do when we're talking about…
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