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Sunday, April 8, 2007

CISA 2007 - Audit Process continued #1

Inherent risk can also be defined as error occuring without compensating controls.

Sampling risk is the wrong assumption made with regards to a population being sampled for.

A risk-based approach in auditing involves understanding of the business processes of the company audited, this is because business risks will affect the long-term viability of the business.

Before using integrated test facility (ITF) we need to isolate test data from production data because it involves testing of test data on live programs

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