What is the essential difference between a self-audit and an independent audit?
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A. B. C. D.C.
To maintain operational assurance, organizations use two basic methods: system audits and monitoring.
Monitoring refers to an ongoing activity whereas audits are one-time or periodic events and can be either internal or external.
The essential difference between a self-audit and an independent audit is objectivity, thus indirectly affecting the results of the audit.
Internal and external auditors should have the same level of competence and can use the same tools.
Source: SWANSON, Marianne & GUTTMAN, Barbara, National Institute of Standards and Technology (NIST), NIST Special Publication 800-14, Generally Accepted Principles and Practices for Securing Information Technology Systems, September 1996 (page 25).
The essential difference between a self-audit and an independent audit is objectivity.
A self-audit is conducted by the organization or individual being audited, while an independent audit is conducted by a third-party organization or individual who has no financial or other interest in the outcome of the audit.
In a self-audit, the organization or individual being audited is responsible for conducting the audit and assessing their own compliance with the relevant standards or regulations. The results of a self-audit are therefore less objective, as the organization or individual may be more inclined to overlook or downplay issues that could reflect negatively on them.
In contrast, an independent audit is conducted by an external auditor who is independent of the organization or individual being audited. The auditor is responsible for assessing the organization or individual's compliance with the relevant standards or regulations and reporting their findings objectively. The results of an independent audit are therefore considered more reliable, as they are based on an objective assessment by a third-party auditor.
Therefore, the correct answer to this question is C. Objectivity. While tools used, results, and competence may also differ between self-audits and independent audits, the essential difference is the level of objectivity involved in conducting the audit.