An Audit of a Web-Based Third-Party Payment Processor Determined That

question 364

Multiple Choice

An audit of a Web-based third-party payment processor determined that a programming error enabled customers to create multiple accounts for each mailing address. This caused problems during the processing of credit card transactions. Management agreed to correct the program and notify customers with multiple accounts that the accounts would be consolidated. What should the auditor do in response?

• A) Amend the scope of the subsequent audit to verify that the program was corrected and that accounts were consolidated. II. Evaluate the adequacy and effectiveness of the corrective action proposed by management. III. Schedule a follow-up review to verify that the program was corrected and the accounts were consolidated. IV. Do nothing because management has agreed to address the problem.
• B) III only
• C) IV only
• D) I and II only
• E) II and III only

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