After an external IS audit, which of the following should be IT management's MAIN consideration when determining the prioritization of follow-up activities?
Click on the arrows to vote for the correct answer
A. B. C. D.B.
The main consideration for IT management when determining the prioritization of follow-up activities after an external IS audit should be the materiality of the reported findings. Materiality refers to the importance or significance of a finding, based on its potential impact on the organization's operations, financial reporting, or compliance with laws and regulations.
Therefore, the IT management should prioritize addressing the findings that pose the greatest risk to the organization, either in terms of financial loss, reputational damage, or legal or regulatory non-compliance. This approach helps to ensure that the most critical issues are resolved first, and the organization can mitigate the associated risks in a timely manner.
The amount of time since the initial audit was completed should not be the primary consideration for prioritizing follow-up activities since the risk profile of the organization may have changed, and new vulnerabilities or threats may have emerged in the interim period. Similarly, the availability of external auditors should not be a factor in determining the priority of follow-up activities, as the organization is responsible for managing its own risk and compliance.
Finally, the scheduling of major changes in the control environment may impact the timing of follow-up activities, but it should not be the main consideration for prioritization. Instead, the IT management should consider the urgency and importance of addressing the reported findings, and allocate resources accordingly to address the highest risk areas first.