IT assurance services in financial reporting system refer to IT audit services conducted with the aim of giving assurance that the controls and securities in the management information system process are reliable right from input, processing, storage to output. This review takes into consideration a risk-based methodology that specifically incorporates the assessment of IT General Controls, application controls, and IT-dependent manual controls. The audit reviews the individual business technology components used by the organization and ensures that no opportunities exist for internal or external abuse.
The IT audit professionals interact with the financial Assurance team in the application of the following activities:
- Understanding the scope of services and service requirements
- Understanding the business
- Assessing internal controls at the entity level and the risks of fraud
- Developing the preliminary audit strategy Understanding and evaluating the flow of significant classes of transactions and related controls within significant processes
- Performing tests of controls
- Performing risk assessments and develop substantive audit procedures
- Performing analytical and data analysis procedures
- Performing tests of details
- Performing general audit procedures
Our team of experts are available to render IT assurance services to your organization with aim of giving you the assurance you require in the area.
