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How to Apply Analytical Procedures When Performing an IT Audit
- Key terminology definitions related to IT audit analytics
- Principles and practices for performing IT audit analytical procedures
- Sound IT audit risk considerations through analytical techniques
- Effective IT audit substantive testing
- How to articulate an IT audit business case
Overview of the webinar
Information systems necessitate a high degree of reliability and integrity considering the effect on decisions. This condition is a result of the frequent need to extract system-generated information as opposed to manually created information to aid in making business decisions. Hence, auditors need to convey timely opinions on both the quality of data and the information produced by systems utilizing digital processing techniques. Typically, analytical sampling procedures explore interrelationships and patterns of selected audit area items. As an IT auditor, data analysis software can is usable for performing audit sampling.
IT auditor audit evidence is collected, analyzed, interpreted, and documented to support audit results. Specifically, audit evidence endorses the unbiased basis for audit opinions, conclusions, and recommendations. Furthermore, evidence must meet the IT audit evaluation criterion of sufficiency, reliability, relevancy, and usefulness. Audit evidence persuasiveness evaluation is judged based on conditions – such as provider independence and supporting qualifications. The persuasiveness of audit evidence is particularly important when reaching assertion veracity conclusions.
Audit evidence sufficiency represents factual, adequate, and convincing information that a prudent and informed person would reach the same conclusion as the auditor. Reliable audit evidence requires information documented to be static when evaluated against audit objectives. Additionally, an IT auditor should attempt to obtain the best evidence available through appropriate audit techniques. Combined, if the auditor meets the reliability and best evidence requirements during an IT audit, evidence competency is attainable. Audit evidence relevancy requires information to support audit findings and recommendations as well as maintaining consistency with audit objectives. Useful audit evidence is information that assists the organization in meeting control objectives.
Who should attend?
- Risk Management Personnel
- Internal Auditors
- External Auditors
- Information Systems Personnel
- Compliance Personnel
- Information Security Personnel
Why should you attend?
As computing power has advanced, enterprise personnel have become increasingly dependent on technology to carry out operational requirements and to collect, process, maintain and report essential data. This reliance on electronically encoded data and on the systems that affect managerial decisions constitute a significant concern of audit professionals. Consequently, information technology (IT) auditors examine the adequacy of controls in information systems and related operations to assure effectiveness and efficiency in business processes.
In this analytical procedures webinar, information systems management expert Dr. Robert E. Davis, CISA, CICA will discuss substantiating the risk of control objectives not being met for information and related technology. Systemically, Dr. Davis also will cover the accepted criteria for examining information systems deployed in specific audit areas. Moreover, regarding assurance practice content, Dr. Davis will address analytical techniques and detail evaluations. Lastly, Dr. Davis will convey the suitability of using substantive testing to determine appropriate IT due diligence.
Faculty - Dr.Robert E. Davis
Dr. Robert E. Davis, MBA, DBA, CISA, CICA (an invited Golden Key and Delta Mu Delta member) obtained a Bachelor of Business Administration degree in Accounting and Business Law and a Master of Business Administration degree in Management Information Systems from Temple and West Chester University; respectively. In addition, during his twenty years of involvement in education, Robert acquired Postgraduate and Professional Technical licenses in Computer Science and Computer Systems Technology. Robert also obtained the Certified Information Systems Auditor (CISA) certificate — after passing the 1988 Information Systems Audit and Control Association’s rigorous three hundred and fifty multiple-choice questions examination; and was conferred the Certified Internal Controls Auditor (CICA) certificate by the Institute for Internal Controls. Robert was awarded the Doctor of Business Administration degree specializing in Information Systems Management by Walden University.
Since starting his career as an information systems (IS) auditor, Robert has provided data security consulting and IS auditing services to the United States Securities and Exchange Commission, United States Enrichment Corporation, Raytheon Company, United States Interstate Commerce Commission, Dow Jones & Company and Fidelity/First Fidelity (Wells Fargo) corporations as well as other organizations; in staff through management positions.