The Greatest Risk of Conducting Periodic Reviews of IT

C.

Conducting periodic reviews of IT over several years based on the same audit program can pose several risks. Let's examine each answer choice to determine which is the greatest risk:

A. The amount of errors will increase because the routine work promotes inattentiveness.

This answer choice suggests that conducting periodic reviews of IT over several years based on the same audit program could lead to an increase in errors due to inattentiveness. However, this risk can be mitigated by implementing measures to ensure that auditors remain alert and attentive throughout the audit process, such as rotating audit team members, introducing new audit procedures, and periodically reviewing and updating the audit program.

B. Detection risk is increased because auditees already know the audit program.

This answer choice suggests that conducting periodic reviews of IT over several years based on the same audit program could increase detection risk because auditees already know the audit program. This could lead to auditees being better prepared for the audit and potentially hiding or concealing any issues or risks that they are aware of. However, this risk can be mitigated by varying the audit program and procedures, implementing surprise audits, and conducting interviews with auditees to gain a deeper understanding of the organization's IT systems.

C. Audit risk is increased because the programs might not be adapted to the organization's current situation.

This answer choice suggests that conducting periodic reviews of IT over several years based on the same audit program could increase audit risk because the audit program might not be adapted to the organization's current situation. This could lead to auditors missing critical issues or risks that are unique to the organization's current situation. To mitigate this risk, auditors should regularly review and update the audit program to ensure that it is relevant and appropriate for the organization's current situation.

D. Staff turnover in the audit department will increase because fieldwork becomes less interesting.

This answer choice suggests that conducting periodic reviews of IT over several years based on the same audit program could lead to an increase in staff turnover in the audit department because fieldwork becomes less interesting. However, this risk is not directly related to the audit process itself and can be mitigated by providing opportunities for professional development, job rotation, and other incentives to keep audit staff engaged and motivated.

Based on the above analysis, the greatest risk resulting from conducting periodic reviews of IT over several years based on the same audit program is likely answer choice C - audit risk is increased because the programs might not be adapted to the organization's current situation. This risk can result in auditors missing critical issues or risks that are unique to the organization's current situation, potentially leading to inadequate or ineffective audit findings and recommendations. Therefore, it is important for auditors to regularly review and update the audit program to ensure that it is relevant and appropriate for the organization's current situation.