An IS auditor noted that a change to a critical calculation was placed into the production environment without being tested. Which of the following is the BEST way to obtain assurance that the calculation functions correctly?
A.
Check regular execution of the calculation batch job.
B.
Interview the lead system developer.
C.
Obtain post-change approval from management.
D.
Perform substantive testing using computer-assisted audit techniques (CAATs).
Answer: D
checking the regular execution of the calculation batch job as a means to obtain assurance that the calculation functions correctly. While monitoring the regular execution of the calculation can provide some level of assurance that it runs without obvious errors, it does not directly verify the accuracy or correctness of the calculation itself, especially if a change has been implemented without proper testing.
Programming and data analysis skills are required for auditors to properly utilize CAAT. Method A is a simple and effective way to address the situation in question.
Computer assisted audit techniques (CAAT) is a method of gathering and reviewing electronic records. CAAT is used to simplify or automate the data analysis and audit process, and it involves using computer software to analyze large volumes of electronic data for anomalies.
CAATs may be used in performing various auditing procedures, including the following: a. tests of details of transactions and balances, for example, the use of audit software for recalculating interest or the extraction of invoices over a certain value from computer records
Key word: Which of the following is the BEST way to obtain "assurance" that the calculation functions correctly? CAATs can not to "assurance" anything.
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