Auditing of CBIS Chapter Ten. IIA Vs. AICPA IIA Audit Scope –Reliability and integrity –Complies with operating parameters –Review IC to safeguard assets.

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Presentation transcript:

Auditing of CBIS Chapter Ten

IIA Vs. AICPA IIA Audit Scope –Reliability and integrity –Complies with operating parameters –Review IC to safeguard assets –Review uses of firm’s resources –Review overall compliance with company objectives

Internal Audits Financial –reliability and integrity of accounting records IS –general and applications controls of IS Operational –economic and efficient use of resources

Audit Risk Inherent Risk –material misstatements without controls –perhaps specific technology or industry risk Control Risk –material misstatements given the existing control structure Detection Risk –probability that auditors will not detect errors

Materiality Define? Reasonable assurance

IS Audits Security Program development and acquisition Program modification Computer processing –the test data phase Source data integrity Safeguarding of data files

Concurrent Audit Techniques Integrated Test Facility (ITF) –can the system recognize fictitious records Snapshot Technique –MF - TF - MF and auditor reviews System Control Audit Review File (SCARF) –Continuous and Intermittent Simulation (CIS) –set audit parameters and collect data in a file Audit Hooks –real-time notification of specific events

Key to Audit Software Integrate audit software and processes during design and implementation

Become Wealthy; Donate Audit Software to ISU Self-designed - comparison of reported and expected results; e.g., bonuses, commissions, wages, interest GAS, ITF, SCARF Automated flowcharting Automated decision tables Scanning routines (SSN example)