B
Following are the phases that are involved in Information system monitoring and maintenance: ✑ Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task: - Analyze and prioritize risks to organizational objectives. - Identify the necessary application components and flow of information through the system. - Examine and understand the functionality of the application by reviewing the application system documentation and interviewing appropriate personnel. ✑ Identify controls: After prioritizing risk now the controls are identified, and this involves following tasks: - Key controls are identified across the internal control system that addresses the prioritized risk. - Applications control strength is identified. - Impact of the control weaknesses is being evaluated. - Testing strategy is developed by analyzing the accumulated information. ✑ Identify information: Now the IS control information should be identified: - Identify information that will persuasively indicate the operating effectiveness of the internal control system. - Observe and test user performing procedures. ✑ Implement monitoring: Develop and implement cost-effective procedures to evaluate the persuasive information. ✑ Report results: After implementing monitoring process the results are being reported to relevant stakeholders. Incorrect Answers: A, C, D: These all phases occur in IS monitoring and maintenance process after prioritizing risks.