What should an IS auditor review first when evaluating management's risk assessment of information systems?

When evaluating management's risk assessment of information systems, it is essential for the IS auditor to first review the threats and vulnerabilities affecting the assets. This focus is critical because understanding the landscape of potential threats and inherent vulnerabilities is foundational to assessing how those risks might impact the organization’s information systems.

Identifying threats includes considering both external and internal factors that could compromise the security and integrity of assets. Vulnerabilities, on the other hand, refer to weaknesses that can be exploited by threats. By establishing a clear understanding of these elements, the auditor can more effectively evaluate whether the risk assessment accurately reflects the potential risks faced by the organization.

By prioritizing this review, the auditor ensures that the subsequent steps—such as evaluating the controls in place and their effectiveness—are contextualized within the actual risk environment of the organization. This structured approach is essential for delivering a comprehensive audit that aligns with the principles of risk management.

Thus, starting with an examination of threats and vulnerabilities sets a strong foundation for evaluating the overall risk management strategy within the organization.