AUDIT REPORT (3-4 pages)Mitigation strategy for risks identified and should evaluate report for completeness and comprehensiveness. Answer the following: 1. Identify mitigation strategies to addr

AUDIT REPORT (3-4 pages)

Mitigation strategy for risks identified and should evaluate report for completeness and comprehensiveness.

Answer the following:

1.     Identify mitigation strategies to address the below risks for an IT company for an audit report.

·       Evaluation of Risk Effects Data CIA (Confidentiality, Integrity, and Availability)

·       Computer Security and Accessibility

·       Fire Risk

·       Flooding Damages

·       Risk of Stealing or Tampering with Sensitive Data

·       Power Failure

·       System Administration

·       Backup Recovery

2.     Use the following format for explaining how you will address each risk

·       Accept and recognize the risk with your executive management and IT staff and managers. Adjust or reduce the risk. The adjustment can be done by updating requirements or risk list Control the risk by lowering the causes of it.

·       Document everything and make sure it is correct.

·       Continue to monitor and watch the risk effects and causes of the risks.

·       Limit the recurrence of the risk and how to adjust your future of handling it.

3.     Add the following to the audit report:

• Evaluation of the effectiveness of the report for meeting current and future challenges
• Identify future requirements
• Develop a strategy for implementation of the risks
• Compare your implemented audit report via the risks against an audit report of a well-reputable company