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2. Context of IT Audit Information system audit • IT Audit (Information Technology Audit) is a comprehensive process of evaluating and assessing an organization’s IT systems, infrastructure, policies, and operations to ensure they are secure, effective, and in compliance with relevant regulations and standards. IT audits help to identify vulnerabilities, inefficiencies, risks, and areas where improvements are needed in IT practices and systems. • Purpose of IT Audit: • Risk Management: Identifying and mitigating risks such as security vulnerabilities, system failures, data breaches, and fraud. • Compliance: Ensuring that IT practices align with legal, regulatory, and industry requirements . • Efficiency: Assessing whether IT systems and processes are running effectively, supporting business operations, and optimizing resources. • Internal Controls: Evaluating controls to protect against unauthorized access, fraud, and errors. • Strategic Alignment: Ensuring IT systems support organizational goals and objectives. • Benefits of IT Audits: • Enhanced Security: Helps identify vulnerabilities and strengthens defenses against cyber threats. • Regulatory Compliance: Ensures organizations comply with laws, avoiding penalties. • Operational Efficiency: Identifies inefficiencies, leading to cost savings and streamlined operations. • Risk Reduction: Helps mitigate risks such as fraud, unauthorized access, and system downtime. • Improved Decision-making: Provides insights into the effectiveness of IT systems and their alignment with organizational goals. Significantaccounts Income statement Annexes Balance sheet Applicative Controls Business processes Process • Process • Process • Process IT GeneralControls IT environment Application Application Application DB & OS DB & OS DB & OS Covered risk • Loss of continuity • Alteration of accounts • Fraud • Error IT Audit FY24-25 4 January 2025