The Importance of IT Auditing in the Modern World of Business

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This paper summarizes the contents of course CIS7006-8 ‘Foundations of Computer Network Auditing’ at Northcentral University. The course covers information technology (IT) audits and control, IT governance, the IT legal environment, and IT risks. The course also outlines the significant impact on the development of the audit profession by the passage of the Sarbanes-Oxley Act (SOX) in 2002. As the profession continues to evolve, IT auditing has become a segment of the auditing profession that involves attesting to automated controls and compliance with the legal and regulatory environment. The audit profession also contributes to the strengthening of the corporate governance regime within publicly traded business entities. The huge…show more content…
The legislation also provides additional opportunities to the auditing profession because of the need to comply with specific and complex regulations. This paper will evaluate the concepts outlined in course number CIS7006-8, and it will assess the importance of IT auditing in the modern world of business. Additionally, this paper will analyze some of the risks associated with IT audits, and will explain how organizations may implement control measures to ensure that they comply with a plethora of legal and regulatory requirements. This paper provides a justification of the importance of implementing controls to allow successful governance of the organizations, and assesses the overall course. Course Concepts-an Evaluation Foundations of Computer Network Auditing, is a Doctoral level course that introduces the learners to the auditing profession. The course gives special emphasis to IA and the IT auditor. The paragraphs below give a documentation of the evaluation of the key deliverables of the course. The course begins by outlining the crucial role that Information technology (IT) plays in modern businesses. Abu-Musa (2008) stated that IT has become an essential part of the modern organizations and computer systems are prevalent in almost every aspect of businesses. According to Senft, Gallegos, and Davis (2013), the availability of high-speed information processing is a key aspect of a business’s operations. Indeed, the influences and the widespread use of
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