An IS auditor has found that a vendor has gone out of business and the...

This means that the organization should obtain the source code from the escrow agent and compare it with the current version of the application that they are using. The organization should then identify and apply any changes or updates that are missing or different in the escrow version, so that it matches the current version. This way, the organization can ensure that they have a complete and accurate copy of the source code that reflects their current needs and requirements.

Bringing the escrow version up to date can help the organization to avoid or reduce the risks and costs associated with using an outdated or incompatible version of the source code. For example, an older version of the source code may have bugs, errors, or vulnerabilities that could affect the functionality, security, or performance of the application. An older version of the source code mayalso lack some features, enhancements, or integrations that could improve the usability, efficiency, or value of the application. An older version of the source code may also not comply with some standards, regulations, or contracts that could affect the quality, reliability, or legality of the application1.

The other options are not as good as bringing the escrow version up to date for the organization. Option A, analyzing a new application that meets the current requirements, is a possible option but it may be more time-consuming, expensive, and risky than updating the existing application. The organization may have to go through a complex and lengthy process of selecting, acquiring, implementing, testing, and migrating to a new application, which could disrupt their operations and performance. The organization may also have to deal with compatibility, interoperability, or data quality issues when switching to a new application2. Option B, performing an analysis to determine the business risk, is a necessary step but not a recommendation for the organization. The organization should already be aware of the business risk of using an application whose vendor has gone out of business and whose escrow has an older version of the source code. The organization should focus on finding and implementing a solution to mitigate or eliminate this risk3. Option D, developing a maintenance plan to support the application using the existing code, is not a feasible option because it assumes that the organization has access to the existing code. However, this is not the case because the vendor has gone out of business and the escrow has an older version of the source code. The organization cannot support or maintain an application without having a complete and accurate copy of its source code.