Memorize Me! Flashcards
Sampling for compliance test
Attribute
Sampling for substantive test
Variable
Sampling for fraud
Discovery
Sampling for objective of probability of error, and what does it minimize?
Statistical. Minimizes detection risk.
Who approves charter?
Board of directors
Who approves policies?
Board of directors
Who is primarily responsible for IT Governance?
Board of Directors
What does the strategy committee do?
Advise board on IT initiatives
Develop standards/define and set objectives and controls
What does the steering committee do?
Keep BOD informed
Resourcing/general review board for major IT projects
what are the 3 indicators of IT BSC?
- Customer satisfaction
- Internal processes
- Ability to innovate
- note – financial performance is not part of IT BSC*
Identify transcription/transposition errors
Check Digit
Ensure accuracy
Check Digit
Identify transmission error
CRC>Checksum>Parity Bits
Ensure completeness
CRC>Checksum>Parity Bits
Ensure integrity
CRC>Checksum>Parity Bits
Detect and correct transmission error
FEC
ACID principle
Atomicity
Consistency
Isolation
Durability
What online audit technique to use if requires audit trail
Snapshot
What online audit technique to use if requires early detection of error or irregularities
Audit hook
What online audit technique to use if requires audit trail identify transactions as per pre-defined criteria
Continuous and intermittent simulation (CIS)
What online audit technique to use if requires fictitious entity created in live prod
ITF
What online audit technique to use if regular processing cannot be interrupted
SCARF EAM
Not beneficial to use test data
ITF
PM - estimate project timelines or duration
PERT>CPM