Business Continuity – NBC Institute

AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

Question

The world-wide COVID-19 pandemic disrupted the operations of Divine Hope Limited, like it did to many other business concerns. Sequel to this, the management of Divine Hope Limited has now commissioned the development of a Contingency or Business Continuity Plan to ensure continuity of operations, even if such a pandemic or similar situation should re-occur.

Required:

a. Explain SIX steps to be taken in the information system audit of a Contingency or Business Continuity Plan.
(9 Marks)

b. Explain why the audit of the Contingency or Business Continuity Plan is very necessary.
(6 Marks)

Answer

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Tags: Audit Steps, Business Continuity, Contingency Plan, Necessity of Audit
Level: Level 2

Topic: Emerging Trends in Auditing

AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

Question

Indorise Limited has been in business for about 20 years. The company has divisional offices in three locations. The accounting records are kept mainly at the head office, with backup in an adjacent building to the office. The office is located close to a petrol station.

An unfortunate incident occurred in a certain year when the petrol station caught fire, engulfing most offices in the area. The company lost most of the properties in the building, including important accounting records. Consequently, the company relocated its office to another street. However, many of the accounting records were not backed up, leading to disputes from the tax office, customers, and suppliers over balances, with some parties even initiating litigation claims.

Required:

a. Explain the importance of maintaining adequate backup for accounting records. (5 Marks)

b. Identify measures that Indorise Limited could implement to prevent future data loss. (5 Marks)

c. Discuss the role of internal controls in ensuring business continuity in cases of disaster. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Business Continuity, Disaster Recovery, Record Management, Risk Assessment
Level: Level 2

Topic: Risk Assessment and Internal Control
Series: MAY 2023

AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

Question

Required:

a. Explain SIX steps to be taken in the information system audit of a Contingency or Business Continuity Plan.
(9 Marks)

b. Explain why the audit of the Contingency or Business Continuity Plan is very necessary.
(6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Steps, Business Continuity, Contingency Plan, Necessity of Audit
Level: Level 2

Topic: Emerging Trends in Auditing

AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

Question

Required:

a. Explain the importance of maintaining adequate backup for accounting records. (5 Marks)

b. Identify measures that Indorise Limited could implement to prevent future data loss. (5 Marks)

c. Discuss the role of internal controls in ensuring business continuity in cases of disaster. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Business Continuity, Disaster Recovery, Record Management, Risk Assessment
Level: Level 2

Topic: Risk Assessment and Internal Control
Series: MAY 2023

Question Tag: Business Continuity

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AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

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AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

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AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

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AA – Nov 2023 – L2 – Q5 – Emerging Trends in Auditing

Information system audit steps for a business continuity plan and its importance.

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AA – May 2023 – L2 – SC – Q7 – Risk Assessment and Internal Control

Addressing the impact of record loss on business continuity and methods to manage data recovery.

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