Please help me with the following:

SHORT ANSWER/ESSAYS

1) In your own words describe and provide an example of three best practices for addressing IT fraud risk.

2) You are assigned to work on an audit of shipping and billing as the generalized audit software expert. You are working on the following section of the audit:

Determine that management control procedures over sales transactions are adequate to assure that:

a. Sales orders are accepted only within authorized credit limits.

b. Products are shipped to customers complete and on-time

c. All products shipped are invoiced on a timely basis.

d. Prices and terms on the invoices are correct

Describe three specific tests you could perform using your generalized audit software tool. Make sure you describe the basic logic in each computer program used to perform your test. Note vouching, tracing and analytical procedures are not specific tests. Manual procedures are not within the scope of this question.

3) How can internal auditing help the audit committee assess and respond to the risk of fraud from management override of internal controls? You should be able to come up with at least four items.

4) Explain whether you agree or disagree with the following statement:

For each control selected for testing, the internal auditor requires the same quality and quantity of audit evidence.

A yes or no answer is not sufficient. I need to know why.

5) Explain why each of the following statements is considered to be true.

a) Evidence obtained from observation is considered more reliable than from inquiry

b) Evidence obtained from independent third parties is generally considered more reliable than evidence obtained from auditee personnel

c) Evidence obtained directly by internal auditing is generally considered to be more reliable than evidence obtained indirectly