Explain the IS (Information Systems) audit process in the University of Illinois Springfield context. The context: The University of Illinois Springfield (UIS) is a public university. It relies heavily on IS, which includes Canvas (learning management systems) and Banner (Human Resources, Finance, Admissions, Financial Aid, Payroll, Records & Registration, and Recruiting transactions) for day- to-day operations. UIS has to comply with relevant laws and regulations. 

It is also essential for UIS to protect the IS from external and internal security threats. Recently, UIS experienced an external hacking attempt. The administration has decided to review the existing (IS) Information Security Policy (https://www.uis.edu/policy/information-security-policy) to identify any possible shortcomings. You (an IS Auditor) are asked to review relevant IS security standards/policies and provide necessary recommendations to the Chancellor. 

Requirement: 

Explain how you would conduct the IS audit. The length of the answer should be 4 pages.