Certified Information Systems Auditor Practice Exam

The term 'audit universe' refers to the complete scope of potential audits within an organization. This encompasses all areas, processes, activities, and systems that could be subject to audit based on the organization's objectives, risks, and regulatory requirements. Defining the audit universe is a critical step for auditors as it helps in identifying what should be audited and prioritizing audit resources effectively.

By establishing a comprehensive view of the audit universe, organizations can ensure that all relevant aspects of their operations are considered for evaluation, which is essential for effective risk management and compliance. The audit universe is dynamic and may change due to organizational changes, emerging risks, or new regulations, which is why constant review and updates are necessary.

The other options do not capture the comprehensive nature of the audit universe as they are more specific in focus. Financial aspects represent only a subset of what can be audited, personnel involved point to the human resources aspect, and the time frame relates to scheduling rather than the overall scope of potential audit engagements.