When reviewing IT asset life cycle management within an organization, it is MOST important for the IS auditor to confirm each asset has been assigned:

Question

Options

• Aa value
• Ba security label
• Ca location
• Dan owner

• A
  6% (1)
• B
  6% (1)
• D
  88% (14)

Explanation

Assigning an owner to each IT asset is foundational to life cycle management because ownership establishes accountability - the owner is responsible for the asset throughout its entire life cycle, from acquisition through disposal, including decisions about maintenance, classification, and retirement. Without a designated owner, no one is formally responsible for ensuring the asset is properly managed, secured, or disposed of.

Why the distractors are wrong:

• (A) Value - Valuation is useful for financial reporting and risk assessments, but an unowned asset with a known value still lacks accountability for its management decisions.
• (B) Security label - Classification labels are important controls, but they are typically assigned by the owner; labeling without ownership creates an orphaned control with no one to enforce or review it.
• (C) Location - Knowing where an asset resides supports physical security and inventory tracking, but location alone doesn't ensure the asset is actively managed through its life cycle.

Memory tip: Think "life cycle = lifecycle decisions." Every decision in a life cycle (when to patch, when to retire, how to classify) requires a person responsible - that person is the owner. If no one owns it, no one manages it.

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