An short essay "why it is important to evaluate the adequacy of development activities by assessing: (a) the adequacy of project request and approval procedures; (b) the adequacy of feasibility studies; (c) the adequacy of, and adherence to, standards and procedures relating to the: (i) design phase; (ii) development phase; (iii) testing phase; and (iv) implementation phase; (d) the adequacy of project change controls; (e) the appropriate inclusion of organizational personnel throughout the project's life cycle; (f) the effectiveness of project communication and reporting procedures; and (g) the accuracy, effectiveness, and control of project management tools.

The resource:

• State the audit objective of the procedure, which can found in the FFIECdevelopment and acquisitionbooklet at the end of chapter in Appendix A. Locate the page number(s) in the FFIECdevelopment and acquisitionbooklet where the underlying topics for the procedures are covered and record the page number(s). This should be the support for the claims you make in your essay. You should show me that you have read the booklet by your response. Please refrain from expressing your opinion unless you have significant experience in the field.
• State and explain why this procedure is being performed, including a discussion of the risks/issues that the procedure is designed to address. If the procedures addresses such risks/issues as appropriate policies or internal controls established by an auditee, explain the significance of lack of compliance. Remember to review the pages in the FFIECdevelopment and acquisitionbooklet before answering this question