Chapter One.docx

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University of Toronto Scarborough
Financial Accounting
P.Yien/ K.Jackson

Chapter One – Introduction to IT Auditing IT Governance vs. enterprise governance – set/implement corp. strategy, achieve objectives efficiently, manage risks - process for controlling an organization’s IT resources  info, communication systems, tech - control IT process to ensure it complies with regulatory, legal, contractual req’ments 1) to promote an organization’s objectives and enable business processes 2) to manage and control IT related risks - plan to set strategic course of IT acquisition and deployment or use, regularly evaluate/update, should include performance measures against which progress can be evaluated Information Systems Audit and Control Association (ISACA) CobiT – Control Objectives of Information and Related Technology - “structure that links IT processes, resources and info to enterprise strategies & objectives\ - CobiT’s IT Governance Management Guideline i. identifies critical success factors, key goal & performance indicators, maturity model ii. Information Criteria – Key Goal Indicators – create/maintain system of process/control excellence appropriate for business directing & monitoring business value delivery of IT iii. Critical Success Factors leverage IT Resources measured by Key Performance Indicators Control Objectives for Enterprise Governance (COEG) IT and Transaction Processing - IS collects data which becomes info -- becomes reports for stakeholders - may increase some risks and decrease others - reduce risks due to human error, but repetitive data entry may result in programming error What do IT auditors do? - internal or external - evaluate controls over specific applications, pr
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