"Internal audit is process improvement and optimisation," says ICAEW member Abigail Harper who sits on ICAEW's internal audit panel. She is an internal audit expert, specialising in the hospitality industry. "When you are looking at the control around due diligence for suppliers, you can use artificial intelligence to collect data, such as credit score ratings. Environmental, Social and Governance (ESG) questionnaires and queries around capacity and scalability to support growth plans, but a human can still decide. Thresholds and criteria can be built within systems that suppliers are automatically approved when met. However, there will always be instances where you have to discuss the exceptions and make decisions." This can be applied broadly - such as employee hiring scenarios or performing employee and supplier performance reviews. (Source: https://www.icaew.com) Required: b. Clarify the difficulties auditors are experiencing nowadays while performing an information technology audit. Provide your answer with ONE (1) situation.
"Internal audit is process improvement and optimisation," says ICAEW member Abigail Harper who sits on ICAEW's internal audit panel. She is an internal audit expert, specialising in the hospitality industry. "When you are looking at the control around due diligence for suppliers, you can use artificial intelligence to collect data, such as credit score ratings. Environmental, Social and Governance (ESG) questionnaires and queries around capacity and scalability to support growth plans, but a human can still decide. Thresholds and criteria can be built within systems that suppliers are automatically approved when met. However, there will always be instances where you have to discuss the exceptions and make decisions." This can be applied broadly - such as employee hiring scenarios or performing employee and supplier performance reviews. (Source: https://www.icaew.com) Required: b. Clarify the difficulties auditors are experiencing nowadays while performing an information technology audit. Provide your answer with ONE (1) situation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QUESTION 2
"Internal audit is process improvement and optimisation," says ICAEW member Abigail
Harper who sits on ICAEW's internal audit panel. She is an internal audit expert, specialising
in the hospitality industry. "When you are looking at the control around due diligence for
suppliers, you can use artificial intelligence to collect data, such as credit score ratings.
Environmental, Social and Governance (ESG) questionnaires and queries around capacity and
scalability to support growth plans, but a human can still decide. Thresholds and criteria can
be built within systems that suppliers are automatically approved when met. However, there
will always be instances where you have to discuss the exceptions and make decisions." This
can be applied broadly - such as employee hiring scenarios or performing employee and
supplier performance reviews.
(Source: https://www.icaew.com)
Required:
b. Clarify the difficulties auditors are experiencing nowadays while performing an
information technology audit. Provide your answer with ONE (1) situation.
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