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    Question

    Consider the following statements regarding Standards,

    Standards for statutory auditors, and IT Act compliance: Statement 1: Information security audits are mandatory under the IT Act. Statement 2: Statutory auditors must report compliance with IT Act requirements. Statement 3: The IT Act provides specific audit standards for organizations. Statement 4: Failure of auditors to report IT Act violations constitutes negligence. Which statements are correct?
    A Statements 1 and 3 only Correct Answer Incorrect Answer
    B Statements 2 and 4 only Correct Answer Incorrect Answer
    C Statements 1, 2, and 4 only Correct Answer Incorrect Answer
    D Statements 2, 3, and 4 only Correct Answer Incorrect Answer
    E All statements are correct Correct Answer Incorrect Answer

    Solution

    IT Act implies security audit requirements—Statement 1 is correct. Auditors should report IT compliance—Statement 2 is correct. IT Act addresses security standards broadly—Statement 3 is debatable. Auditor negligence in reporting constitutes breach—Statement 4 is correct. Statements 1, 2, and 4 are correct.

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