Isaca Updated CISA Exam Questions and Answers by rachel

A three-way match is a process of verifying that a purchase order, a goods receipt and an invoice are consistent before making a payment1. A three-way match ensures that the organization only pays for the goods or services that it ordered and received, and that the prices and quantities are accurate. A three-way match can prevent errors, fraud and overpayments in the accounts payable process.

An IS auditor should use a purchase order when verifying a three-way match has occurred in an enterprise resource planning (ERP) system. A purchase order is a document that authorizes a purchase transaction and specifies the items, quantities, prices and terms of the order2. A purchase order is the first document in the three-way match process, and it serves as the basis for comparing the goods receipt and the invoice. An IS auditor can use a purchase order to check if the ERP system has correctly recorded, matched and approved the three documents before making a payment.

The other options are not as useful for verifying a three-way match. A bank confirmation is a document that verifies the balance and activity of a bank account3. A bank confirmation can be used to confirm that a payment has been made or received, but it does not provide information about the details of the purchase transaction or the three-way match process. A goods delivery notification is a document that informs the buyer that the goods have been shipped or delivered by the seller4. A goods delivery notification can be used to track the status of the delivery, but it does not provide information about the quantity or quality of the goods or the invoice amount. A purchase requisition is a document that requests authorization to purchase goods or services from a specific supplier2. A purchase requisition can be used to initiate the purchasing process, but it does not provide information about the actual purchase order, goods receipt or invoice.

References:

Bank Confirmation - Overview, How It Works, Importance3

What is Goods Delivery Note? | Definition & Example4

What Is Three-Way Matching & Why Is It Important? | NetSuite1

Enterprise Resource Planning (ERP) - Definition, Types, Uses2

The primary objective of a control self-assessment (CSA) is to educate functional areas on risks and controls. CSA is a technique that allows managers and work teams directly involved in business units, functions or processes to participate in assessing the organization’s risk management and control processes1. CSA can help functional areas to obtain a clear and shared understanding of their major activities and objectives, to foster an improved awareness of risk and controls among management and staff, to enhance responsibility and accountability for risks and controls, and to highlight best practices and opportunities to improve business performance2.

The other options are not the primary objective of a CSA. Ensuring appropriate access controls are implemented is a specific type of control that may be assessed by a CSA, but it is not the main goal of the technique. Eliminating the audit risk by leveraging management’s analysis is not a realistic or desirable outcome of a CSA, as audit risk can never be completely eliminated, and management’s analysis may not be sufficient or reliable without independent verification. Gaining assurance for business functions that cannot be audited is not a valid reason for conducting a CSA, as all business functions should be subject to audit, and a CSA is not a substitute for an audit.

References:

Control Self Assessments - PwC

Control self-assessment - Wikipedia

Control Self Assessment - AuditNet

During a pre-deployment assessment, the best indication that a business case will lead to the achievement of business objectives is that the business case reflects stakeholder requirements. A business case is a document that explains the rationale, benefits, costs, and risks of a proposed project or initiative. A business case should align with the strategic goals and vision of the organization and address the needs and expectations of the stakeholders who are involved in or affected by the project12.

Stakeholder requirements are the conditions or capabilities that stakeholders expect from a project or its outcomes. Stakeholders can include customers, users, employees, managers, suppliers, regulators, and others who have an interest or stake in the project. Stakeholder requirements should be identified, analyzed, prioritized, validated, and documented throughout the project lifecycle34.

The business case should reflect stakeholder requirements because they provide the basis for defining the project scope, objectives, deliverables, quality standards, success criteria, and benefits realization. By reflecting stakeholder requirements, the business case can demonstrate how the project will add value to the organization and its stakeholders, justify the investment and resources required for the project, and facilitate the decision-making and approval process for the project5 .

Therefore, during a pre-deployment assessment, an IS auditor should look for evidence that the business case reflects stakeholder requirements as the best indication that the business case will lead to the achievement of business objectives.

References:

How to Write a Business Case (Template Included) - ProjectManager

How to Write a Business Case | Smartsheet

What are Stakeholder Requirements? | PM Study Circle

Stakeholder Requirements - Project Management Knowledge

Business Case vs Business Requirements - Difference Between

[Business Case Development - Project Management Docs]

Sending a copy of the transaction logs to offsite storage on a daily basis would minimize the risk of losing transactions as a result of a disaster. This is because offsite storage provides a backup of the data that can be recovered in case of a catastrophic event that destroys or damages the onsite data. Storing a copy of the transaction logs onsite in a fireproof vault (B) would not protect the data from other types of disasters, such as floods, earthquakes, or theft. Encrypting © or signing (D) a copy of the transaction logs and storing them on a local server would not prevent the loss of data if the server is affected by the disaster. Encryption and digital signatures are security measures that protect the confidentiality and integrity of the data, but not the availability.