Auditing is basically a thorough review and evaluation of books of accounts. All companies either private or public keep some sorts of financial records. The records are supposed to be prepared by the company accountant. It is not the work of the auditor to maintain proper books of accounts but the company accountant. IT auditing is basically an audit of a company IT systems, operations, management and related processes.
Computerization or use of accounting programs have made it necessary to carry out these IT audits. Many of the works in many organizations is being done online and information is also processed and stored online. It is vital to carry out information technology audit to ensure that the systems put in place give accurate results and that they are reliable. City Sydney is known to have qualified auditors for such audit works..
There are two types of auditors, internal auditor and external auditor. Internal auditors are hired by the management of a company. Their main purpose is to conduct internal audits with the aim of strengthening internal control systems. They are put on salary just like any other employee. Their reports are not presented to the shareholders but rather the management.
On the other hand, external auditors are very independent in their work. They are contracted to work for the company shareholders for period not exceeding one year unless repointed again for another term. External auditors do not report to the company management but instead report to shareholders of that company.
The last objective is to check any instances where the information technology system is being used extravagantly and where there are gross inefficiency tantamount being wasted. Technology is changing the way things are done in an organization. Today information can be processed online and also be stored online. With reference to city Sydney, auditors are required to observe strict professionalism to avoid being compromised.
Request from the management or outgoing auditor to give you previous years audit report or result. Identify and evaluate the impact of any recent financial information on the company. Evaluate any existing regulatory statutes that affect the company and lastly identify any presence of inherent risk and assess it. City Sydney has several auditing firms that can offer IT audits.
IT audits are very important since they provide assurance to companies that information systems are properly protected. The audit will also provide reasonable assurance to the users of IT systems that the information they get from the system is reliable. The system should also be managed properly to achieve the organizational intended benefits.
Risk based audit concept is being embraced today by many companies. The risk approach is used by these auditors to ensure that IT auditors only make informed decisions. The role of IT or information technology and audit today has become completely critical with respect to ensuring the truthfulness of IS in organizations.
To avoid and also prevent any future financial fiascos like the Enron and WorldCom it is necessary to conduct IT audits every financial year. There are quite a number of benefits associated with IT audits. But the most important one is the detection of errors.
Computerization or use of accounting programs have made it necessary to carry out these IT audits. Many of the works in many organizations is being done online and information is also processed and stored online. It is vital to carry out information technology audit to ensure that the systems put in place give accurate results and that they are reliable. City Sydney is known to have qualified auditors for such audit works..
There are two types of auditors, internal auditor and external auditor. Internal auditors are hired by the management of a company. Their main purpose is to conduct internal audits with the aim of strengthening internal control systems. They are put on salary just like any other employee. Their reports are not presented to the shareholders but rather the management.
On the other hand, external auditors are very independent in their work. They are contracted to work for the company shareholders for period not exceeding one year unless repointed again for another term. External auditors do not report to the company management but instead report to shareholders of that company.
The last objective is to check any instances where the information technology system is being used extravagantly and where there are gross inefficiency tantamount being wasted. Technology is changing the way things are done in an organization. Today information can be processed online and also be stored online. With reference to city Sydney, auditors are required to observe strict professionalism to avoid being compromised.
Request from the management or outgoing auditor to give you previous years audit report or result. Identify and evaluate the impact of any recent financial information on the company. Evaluate any existing regulatory statutes that affect the company and lastly identify any presence of inherent risk and assess it. City Sydney has several auditing firms that can offer IT audits.
IT audits are very important since they provide assurance to companies that information systems are properly protected. The audit will also provide reasonable assurance to the users of IT systems that the information they get from the system is reliable. The system should also be managed properly to achieve the organizational intended benefits.
Risk based audit concept is being embraced today by many companies. The risk approach is used by these auditors to ensure that IT auditors only make informed decisions. The role of IT or information technology and audit today has become completely critical with respect to ensuring the truthfulness of IS in organizations.
To avoid and also prevent any future financial fiascos like the Enron and WorldCom it is necessary to conduct IT audits every financial year. There are quite a number of benefits associated with IT audits. But the most important one is the detection of errors.
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