IT auditors often find their own business experience about how their work adds value to businesses. Internal audit departments often have an IT audit element that is applied with a clear perspective on its role in an organization. However, in our experience as auditors in information technology, the wider sector needs to understand the information technology audit function in order to realize the maximum benefits. In this regard, we present this brief overview of the special benefits and added value provided by IT auditing.
In order to be specific, it can revise extensive computing and communication technologies, such as networking systems and networks, operating systems, security systems, software, web services, databases, telecommunications systems, change management and disaster recovery plans.
A series of standardized audits begins by analyzing risk, evaluating design controls and finally testing the functionality of the boards. Skilled accountants can add value to each stage of the audit.
Companies usually hold IT audit functions to provide assurance of technology control and to ensure compliance with federal or industry specific requirements. As investment in technology grows, it can revise that the risk is controlled and a major loss is unlikely. Organizations can also decide that there is a high risk of outage, security or vulnerability. There may also be requirements for compliance with rules such as the Sarbanes Oxley Act or specific industry requirements.
Below are five key issues in which IT accountants can add value to companies. Of course, the quality and depth of technical review is the prerequisite for increasing value. The proposed scope of the audit is also critical for added value. Without clear mandate about which business process and risk will be reviewed, it is difficult to ensure success or added value.
So here are our five top ways that the IT review adds value:
1. Reduce risk. Organization and implementation of information technology auditing in the analysis and assessment of information technology in an organization.
IT audit usually involves risks related to confidentiality, integrity and access to information technology and processes. Additional risks are the efficiency, efficiency and reliability of information technology.
Once the risk has been assessed, it can be a clear view of what course to take – to reduce or reduce the risk by controlling, transferring the risk with collateral or simply receiving the risk as part of an operating environment.
An important concept here is that IT risk is a business risk. Any threat to or vulnerability of critical information technology can directly affect a business enterprise. In short, the agency needs to know where the risk is and then continue to do something about them.
Best practices in information technology used by auditors include ISACA COBIT and RiskIT Framework, and ISO / IEC 27002 Standard and Code of Practice for Information Security and # 39;
2. Strengthen control (and improve security). After assessing the risks as described above, you can identify and evaluate the controls. Poorly designed or ineffective control can be redesigned and / or reinforced.
The COBIT framework of information technology is particularly useful here. It consists of four top-level domains that cover 32 management processes that are useful for reducing risk. The COBIT framework covers all aspects of information security, including surveillance goals, key features for performance, key goals and important performance meetings.
An auditor can use COBIT to evaluate the organization's surveillance and make recommendations that enhance the real value for the information technology environment and the organization as a whole.
Another regulatory framework is the Committee on Sponsors of the Advisory Committee (COSO) Model of Internal Audit. IT auditors can use this framework to gain assurance of (1) efficiency and efficiency of operations, (2) relational accounting and (3) compliance with applicable laws and regulations. The frame contains two items out of five that relate directly to control-controlled environments and surveillance.
3. Follow the rules. Extensive rules in the federal and state territories are specific requirements for information security. The accountant plays an important role in ensuring that specific requirements are met, risk assessment is evaluated and executed by the government.
The Sarbanes Oxley Act (Act on Social and Penal Code) implies the requirements of all public enterprises to ensure that internal controls are satisfactory as defined within the framework of the Committee on Sponsors of the Advisory Committee (COSO) discussed above. It is an IT accountant who ensures that such requirements are met.
HIPAA has three areas of IT requirements – administrative, technical and physical It is an information auditor who plays a key role in ensuring compliance with these requirements.
Various industries have additional requirements such as payment card companies (PCI) data security standards in credit card transactions, such as Visa and Mastercard.
In all these rules and regulations, information technology auditor plays a key role. The Agency needs assurance that all requirements are met.
4. Easily communicate between companies and technology management. Auditing can have a positive effect on opening channels between business and technology management. Interview with auditors, monitor and test what is happening in real life and in practice. Final reports from the audit are important information in written reports and oral presentations. Senior executives can get direct feedback on how their organization works.
Technicians in organizations must also meet the expectations and goals of senior executives. Auditors assist this relationship from the top down with participation in technical development meetings and reviewing the current implementation of policies, standards and guidelines.
It is important to understand that reviewing information is a key element in management of technology management. The company's technology is available to support business plans, actions and actions. Coordination of business and support technology is important. This review contains this ranking.
5. Improve IT management. IT Governance Institute (ITGI) has issued the following definition:
IT governance is the responsibility of management and board members and members of leadership, organization and processes that ensure that the company & # 39; s IT keeps and expands the organization's objectives and objectives. & # 39;
Leaders, organizational structure and processes referred to in the definition point to key accountants in information technology. Based on information technology auditing and general information technology, there is a strong understanding of the value, risk and control of the company's environmental policy. Specifically, IT auditors review the value, risk and control of each key feature of technology – applications, information, infrastructure and people.
Another point of view of the governance policy includes a framework of four key objectives discussed in the Administrative Information Office document:
* IT complies with the company * IT enables the transaction and maximizes benefits * IT resources are used responsibly * IT risks are managed appropriately
Auditors provide assurance that each of these goals is met. Each goal is important for the organization and is therefore important in the information technology audit.
In short, IT review adds value by reducing risk, improving security, complying with rules and facilitating communication between technology and business. Finally, it audits review and strictly the overall IT governance.
ISACA. Manage goals for information and related technologies (COBIT).
ISO / IEC 27002 Data Protection Rules for Information Security.
Committee on Supporting Procedures Companies of the Advisory Committee of the Commission (COSO).