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Information System Audit

Technology enables rapid global business growth and advancement. It is also a major source of business risk. Boards and senior executives recognize the importance of technology, but can struggle to understand and manage it effectively. Often, business executives and IT professionals don't speak the similar language. This communication gap can lead to misunderstandings and misaligned expectations and outcomes

Everyone is aware of the requirement for information security in today's highly networked business environment. Information is arguably among an enterprise's most valuable assets, so its protection from predators from both within and outside has taken center stage as an IT priority. Information System Audit encompasses a comprehensive review and evaluation of automated information processing systems, related non-automated processes and the interface between them.

An IT audit is the process of collecting and evaluating evidence of an organization's information systems, practices, and operations formerly known as Electronic data processing (EDP) audit. Obtained evidence evaluation can assure whether the organization's information system safeguard assets, maintain data integrity and is operating effectively and efficiently in order to achieve the organization's goals or objectives. IT audits are also called automated data processing (ADP) audits and computer audits. An information technology (IT) audit or information systems (IS) audit is an examination of the controls within an entity's Information technology infrastructure.

Our motive is to ensure that resources of the organization are optimized to deliver maximum possible value. We offer Post Migration Audit Certification to clients switching from manual legacy systems to automated processes. This is also used as part of due- diligence procedure.

INFORMATION SYSTEMS (IS) GOVERNANCE:

Effective Information System governance helps to ensure that business systems deliver value and that the risks inherent in using technology are managed. Information Technology (IT) performance is continuously being questioned in the light of changing business and regulatory requirements, such as Sarbanes-Oxley, International Financial Reporting Standards (IFRS), and Basel II, & also the need for transparency to shareholders. The Information System governance structure should be designed to meet all these aims and to fit within the corporate governance framework. Effective Information System governance is increasingly considered compulsory by boards and management. Information Systems governance addresses a number of concerns organizations may have such as:

INAPPROPRIATE INFORMATION SYSTEM STRATEGY : Alignment of Information System strategy to business strategy is critical. Without alignment, management decisions may lead to inappropriate investments or poor implementations of new systems.

DIFFICULTY IN QUANTIFYING THE VALUE OF INFORMATION SYSTEM : This is particularly necessary during acquisitions or disposals. The value derived from the impact of IT should always be known. The absence of this information could lead to inappropriate investment decisions.

REVIEW OF EXISTING INFORMATION SYSTEM SECURITY CONTROLS : against best practices and industry standards. Gap analysis with standards such as ISO27001, SANS, NIST etc / other industry benchmarks like CIS, CERT etc. Making recommendations to improve and strengthen Information System controls

SYSTEMS AND APPLICATIONS: An audit to certify that systems and applications are appropriate to the entity's requirements, are efficient, and are adequately controlled to ensure valid, reliable, well timed, and secure input, processing, and output at all levels of a system's activity.

BUSINESS APPLICATION AUDITS: An audit to certify that systems and applications are appropriate to the entity's requirements, are efficient, and are adequately controlled to ensure valid, reliable, well timed, and secure input, processing, and output at all levels of a system's activity.

INFORMATION PROCESSING FACILITIES: an audit to scrutinize that the processing facility is controlled to assure timely, accurate, and efficient processing of applications under normal and potentially disruptive conditions.

SYSTEMS DEVELOPMENT: an audit to verify that the systems under development meet the goals of the organization and to assure that the systems are developed according to generally accepted standards for systems development.

MANAGEMENT OF IT AND ENTERPRISE ARCHITECTURE: an audit to verify that IT management has developed an organizational structure and procedures to assure a controlled and efficient environment for processing of information.

UNCERTAINLY AS TO THE TRUE COST OF INFORMATION SYSTEM : before investments or modifications are made, an organization should know the current cost in Information System. Without a comprehensive management overview, this can be difficult to ascertain.

PERFORMANCE IMPROVEMENT SYSTEMS : Measuring and improving Information System is a constant challenge. Performance must be measurable to determine that the investment in IT is properly managed, technology risks are appropriately controlled, and a baseline for improvement is established.

REGULATION AND COMPLIANCE FRAMEWORKS : Compliance frameworks can be costly and complicated to implement. However, without them, organizations may increase their risk of fines and the risk of their Information System assets being badly managed.

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