Term Paper on the Segregation of Duties: IT Audit

Term Paper on the Segregation of Duties: IT Audit Essay example
College
Essay
Finance & Accounting
Pages 10 (2510 words)
Download 0
Term Paper on the Segregation of Duties: IT Audit Word Count: 2,520 (10 pages) A fundamental element of internal control is the segregation of certain key duties. The basic idea ?underlying SOD is that no single employee should be in a position both to perpetrate and to ?…

Introduction

If ?you were an IT Auditor in an organization, what type of business risks would you consider? What ?type of control mechanisms would you put in place for more efficient audit procedures? Explain its ?relevance from every perspective. I. Introduction Challenges in IT are becoming ever more complicated. Segregation of duties— also known as SOD—is paramount in today’s information technology spectrum as one considers: business risks from the standpoint of an IT auditor in an organization; control mechanisms which can be implemented for more effective auditing procedures; and the relevance of such segregation of duties from every perspective imaginable. II. Business Risks to Consider as IT Auditor in an Organization There are several factors to take into account when considering oneself being put in a position of risk as an IT auditor. “The challenges facing IT auditors today revolve around change—in technology, the business environment, business risks, the legislative and regulatory environment, and the knowledge and skills required to audit effectively in this evolving environment.”1 So, let us analyze in-depth every relevant angle that the IT auditor has to take into consideration. Changes in technology certainly influence what is going on in terms of how IT auditors are going to respond to that issue. For example, the advent of the iPad and the increased use of tablet PC’s has introduced a new monkey-wrench into the works. ...
Download paper
Not exactly what you need?

Related papers

audit
The company’s reserves have also increased during the current financial year which shows that its investors are considering the company lucrative and are planning to have a long term association with it. The company’s current ratio is 2 which portray quite strengthened financial outlook of the company in terms of liquidity and optimum utilization of its resources. We have been appointed as the…
Post-Implementation Challenges of the Model Audit Rule Research Paper
Audit theory and practice also covers other areas that include the basis of audit opinion, legal liability of the auditors, and examination of frauds, audit evidence, and audit programs. For an audit to be successful, the above factors have to be analyzed critically so that the auditors achieve clarity (Reed, Shedd, Morehead, and Pagnattaro, 2009, p. 39). The auditors have to ensure that they…
Solyndra Solar Term Paper
Meanwhile, the program intends to create over 60,000 jobs for the citizens and remains the significant source of jobs for thousands of people. Despite the current bankruptcy, the program is facing, the administration claims that its investment portfolio is still effective and productive. Meanwhile, the Solyndra issues post criticism about the suitability of government in the process of funding…
Audit
In the year 2003, IAPC was accepted as a series of restructuring regarding the auditing guidelines in order to further reinforce the setting-standard procedures. The IAASB mainly contributes in delivering auditing process related information clearly to the public as much as possible (International Federation of Accountants, 2011). This paper intends to analyse and critically discuss the…
Term paper for 1500 words
The National Broadband Network (NBN) represents the future generation of infrastructure and mode of communication. In the 21st century, the world is advancing at a rapid pace and Australia is also taking part in these technological advancements. According to the Prime Minister of the country, a slow internet connection is one major hindrance in the path of growth. Economic activities are highly…
Audit
The auditor should consider whether to acknowledge the commitment since inherent risk increases the generally risk of the audit. It is often beneficial to set aside transactions into three types- routine, non-routine, and evaluation when valuing inherent risk.  Little Digger’s auditors may not use the system that gives the precise outcome to them, the result is mainly inherited by the risk…
Audit
This has resulted in the emergence of the phrase that “auditors are the dogs that did not bark during the crisis”, and thus their role in helping avert financial crisis through detecting and reporting any anomaly or perceived misrepresentation of the financial truthfulness of organizations has been put to question (Fielding, 2011 p35). Therefore, considering that there are four major auditing…