In the context of an IS audit, the best method to identify risks is through:

Identifying risks in the context of an IS audit is best accomplished through the collective scrutiny of security practices. This approach allows for a comprehensive examination of various interconnected systems and processes within an organization. By evaluating how different security practices work together and their overall effectiveness, it becomes possible to identify vulnerabilities and areas of concern that may not be apparent when reviewing documentation or conducting tests in isolation.

This method emphasizes collaboration and shared insights among different stakeholders, such as IT personnel, security teams, and auditors. By engaging in collective scrutiny, the audit team can leverage diverse perspectives and expertise, which may lead to the identification of systemic risks, emerging threats, and inefficiencies in security controls that a singular review might miss.

Engaging with external audit resources and individual reviews of documentation could provide valuable insights but may not capture the bigger picture or the interactions between various security measures. Regular compliance testing procedures, while important for maintaining adherence to regulations, also may focus more on compliance rather than holistic risk assessment. Therefore, the most effective way to identify risks is by critically analyzing and understanding the combined effectiveness of security practices across the organization.