An audit is the independent examination and expression of an opinion on the financial statements of an economic entity by an appointed auditor in pursuance of that appointment and in compliance with any relevant statutory obligation. The objective of an IT auditing is to enable the auditor express an opinion whether financial statements show a true and fair view of the company state of affairs in accordance with an identified financial reporting framework.
An Information Technology audit is basically described as the review, evaluation and unsolicited assessment of a company infrastructure as far as technology is considered, its policies and general operations. These audits ensure maximum security of the corporate possessions and assets. They also ensure the company data integrity is optimally upheld, alongside facilitating the achievement of the companys goals and aspirations. Therefore, these audits are of tremendous value. The core duty of an information technology auditor is to ensure keen follow up on the overall financial and security controls that are generally in use of such systems.
Operations at this days age companies are utterly computerized. Therefore, these IT audits are used to make sure controls that are information related are running in order. These audits in any organization are of radical significance. First and foremost, they examine the processes and systems that are put in place to ensure the security of the company data. Secondly, they help predict risks to information assets of a company, and in addition, help device ways of curbing those risks. These audits also help enforce information management systems, by ensuring they conform to ISA standards, regulations and specific policies. They also help check drawbacks in firms systems and the whole management at large.
With the incorporation of a multiple number of internal and external stakeholders, the auditing process is a bit concrete. In the recent past, majority of organizations and firms ensure random internal IT control tests, with an effort of enhancing security, dependability, and continuity of the entire system infrastructure.
In planning the IT audit, two major steps are involved. First, information is gathered and then planning done afterwards. Consequently, a comprehensive understanding of the existing internal structure of control is attained. Currently, there has been an upsurge in the number of organizations moving to an audit approach that is risk based. This is because risk is easily identified, and the auditor can either decide to perform substantive or compliance testing forthwith.
IT auditors using the risk based approach are best advised to rely on operational as well as internal controls. They should be in possession of vast knowledge about the company or industry in order for them to make credible and progressive decisions. Other factors that they should consider are risk assessments, the prior years financial audits, recent financial details, and regulatory statuses.
In the gaining an understanding step, what the technology auditor ought to identify is the control criteria, control environment, detect risk evaluation, control risk assessment, and also equate total risk. Subsequently, when information has been gathered and the control has been comprehended, then planning and selection of areas that will be audited can kick off.
Such audits are of great significance, most especially because they ensure the existence and smooth running of internal controls and they help cut on losses by determining risks in business. With reference to City Sydney, this audit procedures have been applauded across the world, in businesses and enterprises that major in technology.
An Information Technology audit is basically described as the review, evaluation and unsolicited assessment of a company infrastructure as far as technology is considered, its policies and general operations. These audits ensure maximum security of the corporate possessions and assets. They also ensure the company data integrity is optimally upheld, alongside facilitating the achievement of the companys goals and aspirations. Therefore, these audits are of tremendous value. The core duty of an information technology auditor is to ensure keen follow up on the overall financial and security controls that are generally in use of such systems.
Operations at this days age companies are utterly computerized. Therefore, these IT audits are used to make sure controls that are information related are running in order. These audits in any organization are of radical significance. First and foremost, they examine the processes and systems that are put in place to ensure the security of the company data. Secondly, they help predict risks to information assets of a company, and in addition, help device ways of curbing those risks. These audits also help enforce information management systems, by ensuring they conform to ISA standards, regulations and specific policies. They also help check drawbacks in firms systems and the whole management at large.
With the incorporation of a multiple number of internal and external stakeholders, the auditing process is a bit concrete. In the recent past, majority of organizations and firms ensure random internal IT control tests, with an effort of enhancing security, dependability, and continuity of the entire system infrastructure.
In planning the IT audit, two major steps are involved. First, information is gathered and then planning done afterwards. Consequently, a comprehensive understanding of the existing internal structure of control is attained. Currently, there has been an upsurge in the number of organizations moving to an audit approach that is risk based. This is because risk is easily identified, and the auditor can either decide to perform substantive or compliance testing forthwith.
IT auditors using the risk based approach are best advised to rely on operational as well as internal controls. They should be in possession of vast knowledge about the company or industry in order for them to make credible and progressive decisions. Other factors that they should consider are risk assessments, the prior years financial audits, recent financial details, and regulatory statuses.
In the gaining an understanding step, what the technology auditor ought to identify is the control criteria, control environment, detect risk evaluation, control risk assessment, and also equate total risk. Subsequently, when information has been gathered and the control has been comprehended, then planning and selection of areas that will be audited can kick off.
Such audits are of great significance, most especially because they ensure the existence and smooth running of internal controls and they help cut on losses by determining risks in business. With reference to City Sydney, this audit procedures have been applauded across the world, in businesses and enterprises that major in technology.
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