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:no_entry: LECTURE 5 IT AUDITING :no_entry: IT RISKS & CONTROLS -…
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LECTURE 5 IT AUDITING
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IT RISKS & CONTROLS
1. Identify IT Risks
Business risk
Audit risk
Security risk
Continuity risk
2. Assessing IT Risk
Threat and organization vulnerability towards the threat
The expected value of risk
Risk indicators & risk measurement
3. Identifying IT Control
COSO Internal Control Integrated Framework
Quality Control Standard
Statements on Auditing Standard
COBIT Framework
4. Documenting IT Control
Documentation
Narrative
Flowchart
Gathering data
Questionnaire
5. Monitoring IT Risk & Control
Monitoring processes
Assessing internal control adequacy
Obtaining independent assurance
Providing for independent audit