During an integrated audit at a retail bank, an IS auditor is evaluating whether monthly service fees are appropriately charged for business accounts and waived for individual consumer accounts.
Which of the following test approaches would utilize data analytics to facilitate the testing?
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A. B. C. D.C.
The test approach that would utilize data analytics to facilitate the testing is option C: Review customer accounts over the last year to determine whether appropriate charges were applied.
Data analytics refers to the process of using various tools and techniques to examine large sets of data and extract meaningful insights. In this scenario, the IS auditor is tasked with evaluating whether monthly service fees are appropriately charged for business accounts and waived for individual consumer accounts. To do this, the auditor can use data analytics to review customer accounts over the last year and determine whether appropriate charges were applied.
By analyzing large sets of data, the auditor can identify any patterns or anomalies that may indicate incorrect or inappropriate charges. For example, the auditor may use data analytics tools to identify instances where a monthly service fee was charged to an individual consumer account, which would be inappropriate based on the bank's policies. The auditor can also identify instances where a monthly service fee was not charged to a business account, which would also be inappropriate based on the bank's policies.
Option A, attempting to charge a monthly service fee to an individual consumer account, would not utilize data analytics and would not provide comprehensive results. This approach would only test a single account and may not accurately reflect the overall effectiveness of the bank's policies.
Option B, evaluating whether user acceptance testing plans were designed and executed appropriately, would not directly address the issue of whether monthly service fees are appropriately charged. User acceptance testing plans are designed to ensure that a system meets user requirements and is functioning as intended.
Option D, comparing the system configuration settings with the business requirements document, would not directly address the issue of whether monthly service fees are appropriately charged. This approach would only test whether the system configuration settings align with the business requirements document and would not provide information on the effectiveness of the bank's policies.
In summary, reviewing customer accounts over the last year to determine whether appropriate charges were applied is the most appropriate test approach that would utilize data analytics to facilitate the testing in this scenario.