IT Governance, Risk, and Compliance:

Due Diligence


July 1, 2013  2:02 AM

Government-Audit Convergence Part VII



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Technology deployment and associated management information systems can provide a competitive advantage as well as increased control requirements. Legal noncompliance risks are an irrefutable fact, where consequences range from significant financial penalties to the threat of damage to an...

June 28, 2013  6:10 AM

Government-Audit Convergence Part VI



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

The most common audit practice laws and regulations influences are evidence collection and perseverance. Where legal compliance audits are decreed, if an illegal act is suspected, IT auditors must ensure evidential legal mandates are satisfied in order to successfully provide authorities with...


June 23, 2013  10:47 PM

Government-Audit Convergence Part V



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Accountability is responsibility for performance against agreed-upon expectations either stated and/or implied.  Professionally, an IT auditor should exercise due caution from disclosing information acquired in the course of an engagement to any person other than the entity’s dually  appointed...


June 21, 2013  5:02 PM

Government-Audit Convergence Part IV



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Regarding laws and regulations, when professional standards are applied to compliance engagements, an IT auditor has the right to believe that management has established appropriate controls to prevent, deter and detect illegal acts, unless tests and evaluations carried on by an IT auditor prove...


June 17, 2013  1:31 AM

Government-Audit Convergence Part III



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Professional prudence dictates legal mandates impacting IT-IAP audit practice areas should be thoroughly understood by audit team members prior to proceeding with fieldwork. Specifically, IT auditors “should review compliance with applicable statutory laws, regulations as well as contracts and,...


June 15, 2013  5:19 PM

Government-Audit Convergence Part II



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Government sponsored laws and regulations can influence auditor conduct and impose IT audit practice requirements.  Therefore, applying ISACA’s Professional Ethics and Standards, an IT auditor “should maintain the highest degree of integrity and...


June 10, 2013  2:30 AM

Government-Audit Convergence Part I



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Generally, audit has a responsibility for ensuring that (1) independence and objectivity are maintained in all phases of assignments, (2) professional judgment is utilized in planning approaches, performing procedures, and reporting results of engagements, (3) work is conducted by personnel who are...


March 21, 2013  1:02 AM

Risk Management: Is it just another set of business buzzwords? – Part VIII



Posted by: Robert Davis
Administrative Control, Asset Management, Business Continuity, Continuity Management, Crisis Management, Decision Making, Due Care, Due Diligence, Enterprise Governance, Event Management, Incident Management, Information Technology, IT, IT Management, Management Information System, Operating Style, Risk Management, Threat Management

IT policies, directives, standards, procedures, and rules should be deployed based on assessed effectiveness and efficiency in addressing managements risk appetite. Deployed controlling and monitoring activities should reflect management’s strategy for ensuring an adequate IT control system. IT...


March 16, 2013  3:40 PM

Risk Management: Is it just another set of business buzzwords? – Part VII



Posted by: Robert Davis
Administrative Control, Asset Management, Business Continuity, Continuity Management, Crisis Management, Decision Making, Due Care, Due Diligence, Enterprise Governance, Event Management, Incident Management, Information Technology, IT, IT Management, Management Information System, Operating Style, Risk Management, Threat Management

Management should establish standards as baselines for measuring quantity, weight, extent, value, or quality.  Standards can be considered specific goals or objectives against which performance is compared.  Selection of points where performance will be measured is critical to...


March 14, 2013  1:10 AM

Risk Management: Is it just another set of business buzzwords? – Part VI



Posted by: Robert Davis
Administrative Control, Asset Management, Business Continuity, Continuity Management, Crisis Management, Decision Making, Due Care, Due Diligence, Enterprise Governance, Event Management, Incident Management, Information Technology, IT, IT Management, Management Information System, Operating Style, Risk Management, Threat Management

Controlling and monitoring activities attempting to ensure acceptable risk responses include:

  • Policies
  • Directives
  • Standards
  • Procedures
  • Rules
Strategically; policies are definite courses or methods of action...


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