An IS auditor was hired to review e-business security. The IS auditors first task was to examine each existing e-business application looking for vulnerabilities. What would be the next task?

A. Report the risks to the CIO and CEO immediately

B. Examine e-business application in development

C. Identify threats and likelihood of occurrence

D. Check the budget available for risk management

Explanation: An IS auditor must identify the assets, look for vulnerabilities, and then identify the threats and the likelihood of occurrence. Choices A, B and D should be discussed with the CIO, and a report should be delivered to the CEO. The report should include the findings along with priorities and costs.