Know Everything About IS Audit

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Unlike the financial audit, and information system audit is the process of evaluating the controls of information technology infrastructure of the whole organization or entity. The audit includes analysis of the information system, practices, assets, and operations of the organization. Furthermore, through Information system audit ensure and safeguards assets, preserves data integrity, and operating efficiently and competently to attain the goal and objective of an organization.

Why IS Audit Is Carried Out?

With an IS audit, the organization will be able to determining dangers that are related to IT assets, and in evaluatingcontrolsto decrease risks. Generally, IT audit is carried out in forms of “specific control review”. Information system audit is carried out to analyses company’s or entity’s confidentiality,availability, and integrity.

It also covers other factors such financial and organizational roles of the company. It analyses the whole system financial statements to Information Systems Platforms. The methodology is designed as per the requirement of ISACA standards and guidelines.

Phases of IS Audit

The whole auditing process includes as many as 4 phases, here let use see all the phases of auditing.

1. Audit Planning

To begin with IS auditing the developers and experts plan IS exposure to fulfil with the aims that are mentioned and required by the client and to assure legal compliance and professional standards. The first aim is to gain an Audit Charter from the customerexplaining the need of the audit, accountability, responsibility, authority of the IT system. The charter must approve and agree the get letter of representation from the management.

2. Business Process and Risk Assessment Study

Next phase involves theact of risk assessments in the process, here the developers analyses the adverse effect possibilities on the information system of the organization. The risk-based audit approach can detect the possibilities of vulnerabilities, damage or loss to assets and probability of occurrence.

3. Audit Work Performance

The performance of audit involves the process of work performance that are carried out through developingareview process internally by reviewing works mutually. The work is then documented along with audit evidence that support auditor’s results. Based on the result, an audit plan and program is developed that details the aim, timing and resources required for the auditing process. . This way the work process is completed through inspection, recomputation calculations, enquiry and observation. The Framework includesaround 34 high-level control aims, for all IT processes and are grouped as planning and organization, purchase and application, distribution and support, and monitoring.

4. Reporting

With the result of the IS audit, the auditor generates reports mentioning every aspects of the report. A report must include identification of the organization scope, aims, period of coverage timing, recommendations limitation and conclusion and so on. With this report, the management takes decisions on business process and in different sector and use it for the development of the organization.

The above- mentioned IS audit process can be performed by qualified and reliable service providers to comply with the standards.