Risk Management
What are 3 types of IT risks?
Data breaches, system downtime, malware attack, inappropriate access, etc.
The purpose of an IT Audit is to..
To evaluate the effectiveness of IT controls and compliance with policies.
The first step in an IT audit is..
Planning and scoping.
What is an IT Control (description not examples)
A policy or procedure in place to ensure the integrity and security of IT systems.
What is Cincinnati's famous style of chili called?
Cincinnati Chili
What is risk management?
The process of identifying, analyzing, and evaluating risks.
SOX stands for..
Sarbanes-Oxley Act.
Auditing of IT systems ensures..
Adherence to policies and regulations.
What type of control helps prevent unauthorized access to systems?
Access controls help prevent unauthorized access to systems by requiring users to authenticate their identity.
What is the name of Cincinnati's major league soccer team?
FC Cincinnati
How is risk management related to IT audit?
Both aim to identify, assess, and mitigate risks within the organizations IT environment.
Why is compliance crucial for our department?
Compliance ensures that we adhere to laws, regulations, and industry standards, thereby safeguarding the organization from legal penalties, enhancing operational efficiency, and maintaining stakeholder trust.
The primary purpose of an IT audit is to what?
Evaluate the effectiveness, efficiency, and security of an organization's IT systems and controls, ensuring they meet regulatory requirements and support business objectives.
Segregation of duties refers to what?
SOD refers to dividing responsibilities among different individuals to reduce the risk of fraud and errors.
What annual festival celebrates Cincinnati's German heritage?
Oktoberfest Zinzinnati
Why is it important to assess risks in IT?
To understand their potential impact and prioritize actions to mitigate them.
Why are regular IT audits important?
Identify vulnerabilities, ensure compliance, improve overall effectiveness over IT governance, etc.
What is the purpose if an audit report?
The purpose of the audit report is to summarize the findings and recommendations from the audit, providing insights for improving IT systems and controls.
What is an example of a physical IT control?
An example of a physical IT control is security cameras that monitor access to server rooms.
What famous ice cream brand originated in Cincinnati?
Graeter's Ice Cream
How does the IT audit process help with risk management?
By identifying potential risks and vulnerabilities in IT systems, evaluating the effectiveness of existing controls, and providing recommendations to mitigate those risks and enhance overall security.
Why is EY's role crucial for us as Internal Auditors?
They provide an unbiased and specialized assessment of the organizations IT systems, HELPING us identify overlooked risks, ensure regulatory compliance, and improve overall IT governance.
What form is used for documenting all controls and control updates for the entire IT audit department?
The 302 file.
Why should IT controls be regularly updated? (Think 302 Updates)
IT controls should be regularly updated to keep up with new security threats and ensure they remain effective.
What famous bridge connects Cincinnati to Covington?
The John A Roebling Suspension Bridge