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Knowledge, acquired information, skills and experiences hold potential value and never truly disappear. In short, no knowledge is lost.

Compliance testing determines if applied controls comply with management's policies and procedures

An audit charter describes the authority and responsibilities of the IS Auditor and the Audit Team

An Information Systems Auditor examines controls, gathers evidence and prepares the IS audit report along with recommendations for the board.

The risk that an error could occur when there are no compensating controls is known as 'Inherent Risk'