SOXintro - Intro to IT Audit and SOX Click to edit Master...

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Click to edit Master subtitle style 9/27/11 Intro to IT Audit and SOX
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9/27/11 Why Is IT Involved? Due to the critical financial systems There isn’t a manual paper trail any longer The data resides in IT systems The logic resides in IT systems and this includes automated control logic (If the credit score is X then do Y …) The financial reports are generated, at least in part, by the systems If the systems are compromised, then financial reporting is compromised Fraud
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9/27/11 Nature of Auditing Internal auditors They are directly responsible for helping management improve organizational efficiency and effectiveness. They assist in designing and implementing an AIS that contributes to the entity’s goals. External auditors Only indirectly concerned with AIS effectiveness. But many internal audit concepts apply to external audits.
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9/27/11 THE NATURE OF AUDITING An overview of the auditing process All audits follow a similar sequence of activities and may be divided into four stages: Planning Collecting evidence Evaluating evidence Communicating audit Communicating Audit Results Evaluating Evidence Collecting Evidence Planning
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9/27/11 THE NATURE OF AUDITING Internal auditor’s responsibilities: Review the reliability and integrity of operating and
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SOXintro - Intro to IT Audit and SOX Click to edit Master...

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