IIA Updated IIA-ACCA Exam Questions and Answers by eira

Sufficiency.

Appropriateness.

Effective deployment.

Cost effectiveness.

Degree of effort and cost needed to correct the reported condition.

Complexity of the corrective action.

Impact that may result should the corrective action fail.

Amount of resources required to conduct the follow-up activities.

Assess the status of corrective action during a follow-up audit engagement after the action plan has been completed.

Assess the effectiveness of corrections by reviewing statistics related to unplanned system outages, and denials of service.

Reassign information systems auditors to assist in implementing management's action plan.

Evaluate the ability of the action plan to correct the weaknesses and monitor key dates and deliverables.

The nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.

The actions of external auditors and other external assurance providers is not encompassed by internal audit's follow-up process.

Internal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.

The follow-up process must be complete and documented in the working papers in order to conclude the engagement.