Required information Ch08 Risks and Controls in an information technology (IT) Environment [LO8-5] Risks and Controls in an information technology (IT) Environment Read the overview below and complete the activities that follow. The nature of the client's information technology (IT) system will affect the risks that management must confront in designing controls for the system. In assessing the risks of material misstatement, the auditors should identify these risks and evaluate the effectiveness of the related controls in mitigating those risks. CONCEPT REVIEW: Auditors assess the risks of material misstatements by using all the audit evidence obtained on the client and its environment, including its internal control. When assessing the risks of material misstatement, the auditors should identify these risks and evaluate the effectiveness of the related controls in mitigating those risks in an information technology (IT) environment. Risks and Controls in an information technology (IT) Environment Part 1 - Drag and Drop Risks and Controls in an information technology (IT) Environment Part 1 - Drag and Drop Use your cursor to match each example of a typical risk with the control that may be used to mitigate the risk in an IT environment. Physical and user controls Controls over access and backup copies Program and user controls Firewalls and password systems Physical controls over terminals and testing of user programs and applications