What is the role of an information systems audit?
What will be an ideal response?
An information systems audit examines the firm's overall security environment as well as controls governing individual information systems. The auditor should trace the flow of sample transactions through the system and perform tests, using, if appropriate, automated audit software. The information systems audit may also examine data quality.
The audit should review technologies, procedures, documentation, training, and personnel. A thorough audit will even simulate an attack or disaster to test the response of the technology, information systems staff, and business employees.
The audit lists and ranks all control weaknesses and estimates the probability of their occurrence. It then assesses the financial and organizational impact of each threat. Management is expected to devise a plan for countering significant weaknesses in controls.
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Suppose the Fed has set the federal funds rate at 4.5 percent using the Taylor rule. If the inflation rate increases by 1 percentage point and the weight on inflation gap is 0.5, all other variables remain unchanged, the federal funds rate should
A. decrease to 3.5 percent. B. decrease to 4 percent. C. increase to 5.5 percent. D. increase to 5 percent.
_____ are expenses incurred when a customer stops buying a product or service from one business and starts buying it from another.
A. Marginal costs B. Standard costs C. Opportunity costs D. Switching costs
In the communication-style model, people who fall into zone two display their unique behavior characteristics with less intensity than in zone one
Indicate whether the statement is true or false
The police have a right to search any area in which the defendant does not have a reasonable expectation of privacy. Which of the following, however, requires the police to obtain a search warrant?
a. using a cotton swab to take a DNA sample of a person under arrest b. looking at photos on a digital camera that was found while searching an arrested suspect c. listening in on a telephone conversation or searching the digital contents of a cellphone d. finding out what websites you have visited on your computer