After identifying vulnerabilities in e-business applications, what should the IS auditor's next step be?

Identifying vulnerabilities in e-business applications is an important step in the risk assessment process. After vulnerabilities have been recognized, the logical next step for the IS auditor is to identify the associated threats and evaluate their likelihood of occurrence. This is critical because understanding the threats helps in determining how these vulnerabilities could potentially be exploited, which in turn informs risk management strategies.

The identification of threats provides a clearer picture of the risk landscape, allowing the auditor to prioritize issues based on the severity of threats and their potential impact on the organization. This step sets the foundation for further analysis and decision-making regarding mitigation strategies and controls to implement, thereby enhancing the overall security posture of the organization.

While reporting risks to executives or examining applications in development are important tasks, they follow the assessment of threats. Similarly, while understanding the budget is necessary for implementing risk management strategies, it must come after determining the risks that need to be addressed. Identifying threats is therefore central to creating a prioritized risk management response that is effective and aligned with the organization’s objectives.