Auditing -Chapter 8 L/C in IT Environment 1. The major components of an information system are; 2. Explain why some components are not typical IT components 3. p. 321-Illustrative Case. Could the bank have avoided this situation? Yes No How? 4. What software do you use on your computer? (Identify at least 4) Identify the four as System software or Application software 5. What happens to the audit trail when a client, which use to process transactions manually, has automated its processes? 6. Now that your client has automated its business processes, it no longer needs to be worried controls unnecessary. What do you think? If you think internal controls are still needed, what controls can be used in an information technology environment. If not, why not