INTERNAL AUDITING

QUESTION 2 (40 MARKS) Article 2: Cybersecurity remains Malaysia's top concern, says Hamzah KUALA LUMPUR (March 28, 2022): Cybersecurity remains one of Malaysia's top concerns following a drastic rise in online crimes reported in the country. Home Minister Datuk Seri Hamzah Zainudin said the number of cases recorded associated with cyberbullying, fraud, intrusion, phishing and email scams had almost doubled. He said in 2019, around 13,000 cybercrime cases were reported involving total losses of RM539mil, and the number increased to approximately 17,000 cases in 2020. Last year, the number of cases increased to more than 20,000, with total losses worth RM560mil while as of February 2022, the number of cases reported was 3,273 involving losses of RM1 14mil. "Many of our current and emerging threats involve new technologies that were unheard of even a decade ago. At the same time, today's national security landscape is changing at a faster pace than ever before. (Source from: https://www.thestar.com.my) Required: a. Based on the above article, identify the primary factors that the Chief Audit Executive must consider when conducting an internal cyber security audit. (12 marks) b. Explain SEVEN (7) stages for the Chief Audit Executive to follow when conducting an internal cyber security audit. (14 marks) c. Describe the degree of communication that occurred when the Chief Audit Executive released the internal audit report on cyber security to senior management. (14 marks)