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INFORMATION SYSTEMS AUDIT

An IT audit is the examination and evaluation of an organization’s information technology infrastructure, policies and operations. It determines whether IT controls protect corporate assets, ensure data integrity and are aligned with the business’s overall goals. IT auditors examine not only physical security controls, but also overall business and financial controls that involve information technology system.

OBJECTIVES OF AN IT AUDIT:

  • Evaluate the systems and processes in place that secure company data.
  • Determine risks to a company’s information assets and help identify methods to minimize those risks.
  • Ensure information management processes are in compliance with IT-specific laws, policies and standards.
  • Determine inefficiencies in IT systems and associated management.

ADVANTAGES OF AN IT AUDIT:

  • Checks Susceptibility to Threat: With an IT audit, companies will be assured that they operate at the lowest risk possible. Moreover, areas that are of high risk will be identified and because of that, companies will be able to develop a plan to resolve or fix those risks and mitigate future threats.
  • Evaluates the System and Ensures Its Integrity:Conducting an IT audit will let companies know if their systems are functioning efficiently and are achieving the goals and objectives of the organization. This can be done by assessing the efficiency of the company’s system. In the event that something is awry, the IT auditor will help the organization create a more efficient running system.
  • Secures Data:A system that has gone through an IT audit is expected to instill the confidentiality, availability, and integrity of the data. This means that sensitive information is protected from leaks or discoveries and data are guarded from modifications by unauthorized parties.
  • Bolsters Controls:An IT audit will not only assess risks, but also identify and evaluate controls. As a result, ineffective or inadequately laid out controls can be restructured and reinforced. By using different frameworks, IT auditors will be able to obtain confidence with regards to the effectiveness and efficiency of the entity’s operations, accuracy and authenticity of financial disclosures, and adherence to relevant rules and policies.
  • Develops IT Governance:IT governance constitutes leadership, frameworks of the entity, and practices that will make certain that the IT of an entity supports and continues the plan of action and goals of the organization. An IT audit will help further the IT governance of the company.

RESPONSIBILITIES OF AN IT AUDITOR:

An IT auditor is responsible for the internal controls and risks of a company’s technology network. This role includes identifying the weaknesses in a systems network and creating an action plan to prevent security breeches in the technology. An IT auditor can also be involved in the planning and execution of internal audit procedures and the creation of internal audit reports. An auditor must work within a team to create a solid information technology infrastructure, and collaborate with clients to devise and put in place policies and procedures regarding network security issues.

IT AUDITOR FUNCTIONS:

  • Examine internal IT controls, evaluate the design and operational effectiveness, determine exposure to risk and develop remediation strategies.
  • Troubleshoot security and network problems.
  • Respond to all system and/or network security breaches.
  • Plan, implement, monitor and upgrade security measures for the protection of the organization’s data, systems and networks.
  • Participate in the change management process.
  • Test and identify network and system vulnerabilities, and create counteractive strategies to protect the network.
  • Conduct efficient and effective IT audit procedures.
  • Communicate complex technical issues in simplified terms to the relevant staff.
  • Perform regular audit testing and provide recommendations.
  • Review, evaluate and test application controls.
  • Provide recommendations and guidance on identified security and control risks.
  • Develop a strong understanding of business and system processes.

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