1 Overview of IT Audit.docx

1 Overview of IT Audit.docx - Auditing in a Computer...

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Auditing in a Computer Information Systems Environment (LBYMODT) 1 Overview of IT Audit ------------------------------------------------------------------------------------------------------ ----------------------------------------------------- 1.1 IT GOVERNANCE Why special focus on IT? IT is all-pervasive and an integral part of every function or business IT enables achieving compliance with regulatory requirements, established company policies, procedures and plans IT requires significant investments, thus the need to be managed properly. Stages in the Business Use of Technology Business-Centric - IT is the business. The business model is conceived around an IT solution. Enabler - IT is used to enable the operation of a business process that may be impractical without the use of technology Support - IT is used to assist selective business processes; however, those processes can easily and effectively be performed manually. Enterprise Governance vs. IT Governance Enterprise Governance Process of setting and implementing corporate strategy, making sure the organization achieves its objectives efficiently, and manage risks. IT Governance Process of controlling an organization’s IT resources, including information, communication systems and technology Continues to be increasingly important Two objectives: o Set strategies aligned with organizational goals o Use IT for maximum opportunity but minimum risk Drivers: o Dependency on information and communication o Scale of IT investment o Potential of IT to create strategic opportunities o Level of IT risk. …the process for controlling an organization’s IT resources, including information and communication systems, and technology. …using IT to promote an organization’s objectives and enable business processes and to manage and control IT related risks. ------------------------------------------------------------------------------------------------------ -----------------------------------------------------
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Auditing in a Computer Information Systems Environment (LBYMODT) 1 Overview of IT Audit ------------------------------------------------------------------------------------------------------ ----------------------------------------------------- 1.2 COBIT 5.0 COBIT 5: Now One Complete Business Framework COBIT 5 Framework COBIT 5: The main, overarching COBIT 5 product Contains the executive summary and the full description of all of the COBIT 5 framework components: o The five COBIT 5 principles o The seven COBIT 5 enablers plus o An introduction to the implementation guidance provided by ISACA (COBIT 5 Implementation) o An introduction to the COBIT Assessment Programme (not specific to COBIT 5) and the process capability approach being adopted by ISACA for COBIT Five COBIT 5 Principles o Meeting Stakeholder Needs o Covering the Enterprise End-to-end o Applying a Single Integrated Framework o Enabling a Holistic Approach o Separating Governance From Management
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Auditing in a Computer Information Systems Environment (LBYMODT) 1 Overview of IT Audit Principle 1. Meeting Stakeholder Needs: Enterprises have many stakeholders, and ‘creating value’ means different—and sometimes conflicting— things to each of them.
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