Questions:
1. The IT auditing and compliance process is inherently complex as it involves multiple internal and external stakeholders. Existing audit infrastructures have evolved from the bottom up and many organizations lack a single system of record preventing top down visibility and control. What tools does senior management need to gain this control?
2. It is generally accepted that internal control procedures, related to AIS, can provide reasonable and in no case, absolute assurance, that the objectives of such controls relating to accounting systems are achieved. This could be due to the possible existence of certain inherent limitations which may consist of number of items. Provide and support some of these limitations.
3. Distinguish between the roles of internal and external auditors. Cite several examples of auditing procedures that may be expected of internal auditors but not external auditors, particularly to the Accounting Information Systems. Which type you would rather be and why?