After examining existing e-business applications for vulnerabilities, what should the IS auditor do next?

Identifying threats and the likelihood of occurrence is a critical step that follows the examination of vulnerabilities in e-business applications. This process involves assessing the specific risks that could exploit the identified vulnerabilities and determining how likely it is that these threats will materialize. Understanding the threat landscape is essential for prioritizing security measures and crafting a response strategy that effectively addresses the most pertinent risks.

By identifying threats, an IS auditor can classify them based on their potential impact and likelihood, which is crucial for effective risk management. This assessment allows for focused resource allocation, ensuring that the organization targets its efforts toward the most significant risks to its e-business applications. It also serves as a foundational component for further actions, such as reporting to management, allocating budgets for security improvements, or making decisions on the development of new applications.

In contrast, immediately reporting findings to management, while essential, would be premature without a clear understanding of the context regarding those vulnerabilities and their associated risks. Similarly, reviewing budget constraints would come into play after determining which threats are most critical. Evaluating the development of new applications does not directly address the immediate next step after assessing existing vulnerabilities. Instead, it would typically follow the threat analysis and risk assessment phases.