In today’s era due to outsourcing of web based technology to specialized companies, many organizations have realized the mandatory need to protect the information which is highly confidential which makes the company quite vulnerable in today's highly networked business environment. Information being the most valuable asset to the company, requires protection from both within and outside on priority.
System audit is the process of collecting and evaluating evidence of an organization's information systems, practices, and operations based on which the auditor can ensure whether the organization's information systems maintains integrity of stored and communicated data, and is operating effectively and efficiently to achieve the organization's objectives. IT audits are also known as computer audits. It examines the controls within an entity's IT infrastructure minimizing the risk of accidental or deliberate errors and omissions. Installing controls are necessary but not sufficient unless people responsible for security ensure that controls are installed as intended and in case of any breach in security, desirable actions should be done to prevent future breaches.
The systems and applications are verified to ensure reliable, timely, and secure input, processing under potentially disruptive conditions, and output at all levels of a system's activity. It also ensures that systems are developed in accordance with generally accepted standards for systems development. It also looks after the Client/Server networks, Intranet, Extranets to verify that controls are in place on the client server, and also on its connecting network.
Unlike a financial audit whose purpose is to evaluate the organization’s adherence to standard accounting practice, IT systems are designed in such a manner that every financial transaction can be traced right from its origination to its processing. IT audit evaluates the system's internal control design and effectiveness which includes efficiency and security protocols, development processes, and IT governance.
We at FINMART have a team of experienced system auditors who assesses the organizational structure of the concerned entity, prepares a report and decides the scope of audit to be carried out in alignment with the top level management.
Any individual or sovereign entity can get System Audit done as per its needs.
The documents needed vary from case to case. Let FINMART understand your needs and assist you in documents requirement.