Page 52 - Courses

Understanding the Software Development Life Cycle — IT Certificate
Objectivity
An unbiased mental attitude that allows internal auditors to perform engagements in such a manner
that they believe in their work product and that no quality compromises are made. Objectivity
requires that internal auditors do not subordinate their judgment on audit matters to others.

Risk
The possibility of an event occurring that will have an impact on the achievement of objectives. Risk
is measured in terms of impact and likelihood.

Risk Assessment
The identification and analysis (typically in terms of impact and likelihood) of relevant risks to the
achievement of an organization’s objectives, forming a basis for determining how the risks should be
managed.

Risk Management
A process to identify, assess, manage, and control potential events or situations to provide
reasonable assurance regarding the achievement of the organization’s objectives.

Standard
A professional pronouncement promulgated by the International Internal Audit Standards Board
that delineates the requirements for performing a broad range of internal audit activities and for
evaluating internal audit performance.

SDLC Framework

The SDLC framework provides a sequence of activities for system designers and developers to
follow. It consists of a sequence of phases, each of which utilizes the results of the previous phase to
support the next. Although there are multiple SDLC models with different names assigned to each of
the phases, and those phases are defined, each of the models operate in a similar fashion. Some
type of written document supports the end of each phase. At the end of each phase, there is usually
some type of written support document that requires review and sign-off by the project or steering
committee.

Copyright © 2021 by The Institute of Internal Auditors, Inc. All rights reserved.