Internal Audit - Info Tech Risks And Controls

Front 1

1. Database

Back 1

a large depository of data, typically contained in many linked files, and stored in a manner that allows the data to be easily accessed, retrieved, or manipulated.

Front 2

2. ERP system-

Back 2

a modular software system that enables an org to integrate its business processes using a single operating database.

Front 3

3. EDI-

Back 3

the computer-to-computer exchange of business documents in electronic form between an org and its trading partners.

Front 4

4. IT governance

Back 4

the leadership, structure, and oversight processes that ensure the org’s information technology supports the objectives and strategies of the org.

Front 5

5. IT risk management

Back 5

the process conducted by management to understand and handle the IT risks and opportunities that could affect the organization’s ability to achieve its objectives.

Front 6

6. IT standards

Back 6

support IT policies by more specifically defining what is required to achieve the org’s objectives.

Front 7

7. IT organization and management controls

Back 7

provides assurance that the org is structured with clearly defined lines of reporting and responsibility and has implemented effective control processes.

Front 8

8. IT physical and environmental controls

Back 8

- protect information system resources from accidental or intentional damage, misuse, or loss.

Front 9

9. Physical access controls

Back 9

provide security over tangible IT resources

Front 10

10. Logical access controls

Back 10

provide security over software and information imbedded in the system

Front 11

11. IT Outsourcing

Back 11

transferring IT functions to an outside provider to achieve cost reductions while improving service quality and efficiency.

Front 12

12. Integrated auditing

Back 12

IT risk and control assessments are assimilated into assurance engagements conducted to assess process level financial reporting, operations, and or compliance risks and controls.

Front 13

Global Technology Audit Guide (GTAG)

Back 13

provides internal auditors with guidance that will help them better understand the governance, risk management, and control issues surrounding IT.

Front 14

14. Guide to the Assessment of IT Risk (GAIT)-

Back 14

describes the relationships among financial reporting risks, key process controls, automated controls and other critical IT functionality, and key IT general controls.