Investigation to review the performance of an operational system
In this fast-paced world, where technology has taken command over manual work, all processes and businesses are being computerized so as to reduce the human effort as well as bring in more accuracy to increase the efficiency of the work performed.
With this benefit, there are sure shot flaws that do come into the picture like the risk of shut down of the computer systems, the risk of unauthorized access leading to fraud and manipulations of the data, risk of improper management of these information systems that are leading to an increase in the cost to the company. Due to all of the above-mentioned reasons, it becomes imperative to have an information system audit.
Information System or IS Audit is basically the analysis or the review of the computer-based systems which results in output and provides information to the management. Information System Audit is relevant and required so as to assure the management that the information generated from these electronic systems is reliable and can be used by the businesses in further decision making.
Reliability of the information generated is not the only motive behind performing the information system audit. It is also necessary to maintain and check the controls over the IT systems and environment.
An information system audit is quite different from a financial audit performed by the auditors. As in a financial audit, the documents used as sources of evidence are journals, vouchers, bills, etc. which are used for the preparation of audit papers during the audit. But in a system audit, the source of evidence are the encryption used, the firewall, authorized users, and password protection. As the nature of System Audit is different, it requires a separate audit that is performed by the CISA-qualified accountants.
Systems audit may be performed simultaneously with the financial audit or internal audit to confirm that proper control exists in the managing of the information systems and that the output generated is reliable and free from fraud or manipulation.
ARC Associates have a team that is well qualified in handling the Information System/ IT audits. Our team is well equipped to understand the risks that are associated with the Information Systems and they conduct the Information system audit keeping in mind all the risks and provide consultancy and advisory services after identifying all the risks that the business is exposed to. It is the foremost objective of ARC Associates in IT Audit to provide efficient solutions to the businesses that are exposed to the risks associated with the Information Systems Audit.