Activity: Initializing the IT Audit Report

Activity: Initializing the IT Audit Report

Copyright: © 2020 |Pages: 28
DOI: 10.4018/978-1-7998-4198-2.ch008
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Abstract

After assessing sufficient, reliable, relevant, and useful evidence from planning through fieldwork, formal IT audit results communication is the next IT audit activity. IT audit area reporting conveys an opinion concerning control adequacy after planning, studying, and testing material or significant auditable units. Completing the working papers review and assessment prepares the in-charge IT auditor for drafting a report stating an opinion reflecting conclusions drawn from engagement area evidence. Reviewing the audit report draft with audit area personnel is a courtesy that can ensure final audit report validity, Chapter 8 details draft audit reporting preparation, review, and distribution. Chapter 8 also details the IT audit closing conference as well as the final audit review and distribution.
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Draft Audit Report Preparation

Completing the working papers review and assessment prepares the in-charge IT auditor for drafting a report stating an opinion reflecting conclusions drawn from engagement area evidence (Davis, 2005, 2011). If AR was accurately forecast, auditable unit conclusions should align with engagement AA expectations (Davis, 2005, 2011). Nevertheless, the assigned IT audit team members must inform appropriate parties of work performance results (ISACA, 2013c).

Key Terms in this Chapter

Risk Management: Refers to a systematic approach for identifying risk and defining the impact on an enterprise’s ability to provide goods and services ( Davis, 2008 ).

Auditee-Activity Matrix: Presents a cross-reference chart indicating management personnel and expected engagement participation.

Ambit Limitation: Represents a constraint to obtaining sufficient appropriate evidence concerning an engagement audit area component.

Material Control Weakness: Existence precludes the enterprise from providing reasonable assurance that errors, mistakes, omissions, irregularities, or illegal acts will be prevented or detected on a timely basis by employees in the ordinary course of performing their assigned responsibilities.

Audit Report: Discloses all significant facts known when conveying audit engagement results.

Uncertainty: Is insufficient audit evidence collection.

Closing Conference: Indicates a meeting to review and discuss the subject matter of the audit report.

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