Question 2 (20 marks) IT projects require large amounts of capital and selecting one project often means foregoing others. Furthermore, IT projects often involve changes in business processes that will affect substantial portions of the organization 1. Explain potential benefits of IT initiatives and how to evaluate them 2. Assess potential costs of IT initiatives and how to evaluate them I PART ONE (60 marks) Question 1 (20 marks) It is expected that investors and other financial statement users will ultimately demand some assurance from an auditor or external party on a firm's use of XBRL Discuss that statement showing the XBRL possible assurance objectives I PART TWO (40marks) Question 1 (20 marks) Computer-assisted Audit Techniques (CAATs) are imperative tools for auditors to conduct an audit in accordance with heightened auditing standards. Discuss the above statement explaining: The role of internal auditors according to auditing standards. Different approaches to apply CAATs