Steps to conduct comprehensive IT Audit
Let\’s talk about IT Audit in todays world. What do you know about IT Audit now? Have you ever been involved in such audits? I have been working for a Big 4 company for almost 5 years and all this time I was performing various types of IT Audit. That is way, I think that I have some IT Audit experience.
Most of my audits were targeted to financial audits, which is the main operations of my company. However, we had performed special IT Audits and IT Security Audits for different companies across CIS region.
While doing such small IT assessments during work for financial audit, you often hear such term as IT Risk Assessment. We need to consider risks in all our work, thus it is nothing to do – but we need to assess how our customers perform IT risk assessments at their systems. That is why we often look at various reports about work done, talk to different people from IT department – our target is to confirm that this particular client has dialed with IT risk and no significant impact would arise to the company financial statements. We just need to address any possible risks to our work, as our final report will be very important. It would be not very good, if in future this conclusion will be impacted by exploitation of some risk, which we had not seen during our work.
But in order to perform good and quality IT Audit we need to use different IT Audit Tools and techniques. Such tools are different for different environments – for example for Windows environment we would use some tools provided by Microsoft company (e.g. MS Security Base Line Analyzer). And for UNIX environment these tools will be completely different. The same is with databases – one IT Audit tools will be used for Oracle databases and another will be used for MS SQL databases. But in each case while performing IT Audit assessment you need to use different IT Audit Tools. This will significantly reduce the amount of manual work you need to accomplish.
So, while performing IT Audit assessments, we need to consider the IT Risk Assessment, which can be performed by company, or we may perform such assessment. We need also to use some IT Audit tools and technics, and develop appropriate report for our work. And only after all these tasks are finished, we can start making our IT Audit Report. This is very hard work, as you need to consider all findings which came to your attention during the IT Audit work. You need to combine all these findings, sort them, and conclude on which of them will be reported. As a rule, this is done through classification of findings based on their criticality and impact to the financial statements of the company. You can sort all isues as having Low, Medium or High impact. Usually we report only Medium and High findings to the management of the company. And the Low findings are discussed only with local IT management in order to address the risk.