Objectives Of Information Technology Audit

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An information technology audit is the examination of IT controls within information technology (IT) systems. It evaluates the evidence obtained from various tests and verifies whether information systems are adequately protecting the assets, maintaining the accuracy of the data and operating effectively to achieve the objectives or objectives of the organization. It determines whether IT measures protect resources, ensure data reliability, and help achieve overall business goals and objectives. The IT auditors estimate not only physical security controls, but also the operational and financial sectors that involve information technology systems. IT audits are used to ensure that IT controls and processes work properly. Its main objectives…show more content…
• To ensure that information management processes are in compliance with IT laws, policies and requirements. • To determine risks in IT systems and associated management. IT audit is carried out as follows: 1. Establish the IT audit objectives and goals. 2. Develop an audit plan to achieve the IT audit goals. 3. Gather information and knowledge about the various IT controls undertaken and evaluate them. 4. Perform audit tests and find evidence, with the help of Computer-Assisted Audit Techniques (CAATs) such as data extraction and analysis software. 5. Report the IT audit findings. Fig.2.1 IT Audit Functions The goals of IT audits include: • Evaluate the reliability of data in computer systems that have an impact on the financial and operating assets of organizations. • Determine the level of compliance with applicable laws, policies and requirements in relation to IT. • Check if there is a possibility of an excess of inefficient waste in the use and management of computer systems. The accessibility and consistency of the data is also maintained or not. 2.1.2 Types of Audits 1. Internal…show more content…
External Audit • External audit considers whether the yearly accounts give a 'true and fair view' and are prepared in agreement with the legal requirements. • External auditors are an outside firm of accountants who are Registered Auditor's. • The external audit firm will set its own program of work based on its valuation of the risks of the accounts being materially misstated. • External auditors report primarily to the shareholders or the trustees for an independent charity. • External auditor's main report is in a format required by Auditing Standards and focuses on whether the accounts give a true and fair view and fulfill with legal requirements. If other things come to their notice which they think should be brought to the client's attention those will be reported separately to the directors in a 'management letter'. • There is no external audit follow up, until the planning stage of the next year's audit; where all the past issues are considered. • Their reports are publicly available but their Management letters are not. • External audit is a regulated activity and it can be helpful for both the company’s perception as well as to check the key elements of its

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