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During Assessment Planning, it is important to conduct a complete risk assessment and conduct detailed testing to understand inherent risks and control risk.
During the planning phase of an assessment, it is not necessary to conduct a complete risk assessment and detailed testing. Instead, limited information gathering and initial procedures are sufficient to estimate inherent risk and control risk, allowing planning to proceed. This initial estimate helps to set the scope and focus of the assessment. Detailed testing and a comprehensive risk assessment can be conducted during the actual assessment phase. This approach allows for a more efficient and flexible planning process. Reference:
ISO 19011:2018 - Guidelines for auditing management systems
NIST SP 800-30 Rev. 1 - Guide for Conducting Risk Assessments
Follow-up on the implementation status of the recommendation by assurance personnel is known as
Follow-up on the implementation status of recommendations by assurance personnel is known as Follow-Up by Independent Assurance. This process involves independent assurance providers reviewing the actions taken to address the recommendations and verifying that they have been implemented effectively. This follow-up ensures that issues identified during the assessment have been resolved and that improvements have been made. Reference:
IIA Standards for the Professional Practice of Internal Auditing
ISO 19011:2018 - Guidelines for auditing management systems
How would the following test be classified?
The Assurance Provider inspects the use of a RACI template in the field to see how it is being used.
Inspecting the use of a RACI template in the field to see how it is being used is classified as a substantive test. This test involves examining actual instances of the RACI template's application to verify its proper use in practice. It goes beyond evaluating the design of the control (the template itself) and looks at the real-world implementation and effectiveness, providing evidence on how the control operates in practice.
AICPA Auditing Standards
ISO 19011:2018 - Guidelines for auditing management systems
A NEGATIVE assurance opinion or statement is
A NEGATIVE assurance opinion or statement indicates that, based on the procedures performed and evidence obtained, the assurance provider did not identify any reasons to believe that the subject matter does not conform to the applicable criteria. This form of opinion does not provide absolute assurance but rather limited assurance, suggesting that nothing came to the auditor's attention that causes them to believe the subject matter is not fairly stated. Reference:
AICPA Auditing Standards
IIA Standards for the Professional Practice of Internal Auditing
Which of these sources of evidence is MOST LIKELY to be MOST OBJECTIVE?
A written report by an assurance professional is most likely to be the most objective source of evidence. Assurance professionals are trained to conduct evaluations impartially, following standardized methodologies and best practices. Their reports are based on documented evidence and systematic analysis, ensuring a high level of objectivity and reliability compared to vocalized statements or reports by process owners, who may have biases or conflicts of interest. Reference:
IIA Standards for the Professional Practice of Internal Auditing
ISO 19011:2018 - Guidelines for auditing management systems
