Internal Audit Training, IT Audit Training Courses, Information Security Training - CPE Interactive

Continuing Professional Education for Audit, Assurance, & Info Security

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Course Description

Assessing the reliability of computer generated data is an important step in audit planning as well as addressing specific audit objectives.

Data is aggregated from various sources, processed using automated rule sets, and stored in databases, data warehouses, etc. Applications and business users extract or retrieve data as the basis for strategic decisions, reporting, day-to-day operations, and auditing. The reliability of data may be at significant risk when placed in operational and IT environments lacking processing, transmission, storage or security controls. Misinterpretation of reliability risk factors may result in misdirected audit effort or incorrect conclusions.

This training session will provide you with the concepts and tools to effectively evaluate the reliability of data processed and available for analysis and decision making.

We will focus on:

  • How reliability assessment of data from IT systems should be conducted during audit planning when developing audit objectives and audit procedures.
  • Key factors to be reviewed during audit planning to assist the auditor in evaluating the sufficiency, reliability and relevance of data to be used as audit evidence.
  • Steps to perform when obtaining evidence during the audit regarding data accuracy, completeness and validity.
  • Data reliability issues relating to organization, appropriateness of controls, risk, and testing.

Learning Objectives

  • Understanding the requirements of data relevance and data reliability
  • Evaluating data classification
  • How to introduce good practices for data management
  • Identifying data integrity requirements
  • Assessing security and availability requirements
  • Evaluating factors that impact data reliability
  • Assessing risk with respect to data reliability
  • Determining the impact of data reliability assessment on developing audit objectives
  • Establishing audit evidence requirements
  • Using data reliability assessment in developing audit procedures

Course Outline

Data Value

  • What is data value
    • Defining data usefulness

Defining Data Reliability

  • Relevance
  • Reliance
  • Integrity
  • Audit and Control Considerations

Operational Requirements for Data Reliability

  • Business process requirements
  • Legal and compliance requirements

Data Management

  • Information architecture
  • Data classification
  • Distinguishing between controls “in place” and “in effect” for reliability
  • Data management definition, ownership and custodianship

Auditing Data Reliability

  • Audit objectives
  • Audit evidence
    • Defining audit evidence
    • Evaluating sufficiency of audit evidence
  • Evaluating internal controls
  • Designing audit procedures

Good Practices for Data Management

  • Database management
  • Database administration
  • Change management
  • Data security
    • Access control
    • Identity management
    • Security management and planning
    • User accounts
    • Incident management
  • Outsourcing
  • Business Continuity

Impact of Internal Control on Data Reliability

  • Control responsibilities
  • Factors that impact control
  • Technology and controls
  • Risk and data reliability
  • Reasonable assurance
  • Audit framework
    • Linking controls to objectives
    • “Closing the Loop” audit framework
    • Control classification

Developing Audit Objectives for Data Reliability

  • Establishing audit objectives
  • Developing criteria

Assessing Reliability of Data

  • Key focus of the assessment
  • Examples of assessments
  • The assessment cycle during the audit

Additional Information

Who Should Attend
  • Internal Auditors (Operational and IT)
  • Financial Auditors
  • Internal Control Professionals
Learning Level

Intermediate

Delivery

Group-Live & Group Internet-Based

Field

Auditing

Advanced Preparation

None

Recommended Prerequisites

General understanding of IT processes and business and accounting applications.

Session Duration

Online: Four 3-hour sessions

On Site: 2 days

CPE Credits: 16