ISACA, formerly known as the Information Systems Audit and Control Association, is a professional organization dedicated to auditing, control, and security. ISACA provides members with access to expert knowledge and networking opportunities through public events (such as conferences) and online communities.
Members are information systems professionals who are committed to improving quality of life by using information technology to help organizations meet their financial, operational, and social responsibilities.
ISACA offers a variety of membership levels that allow for different types of participation in the association. Members can be either individual or professional, and can join either as an auditor, control practitioner, or security professional. Auditor members conduct forensic audits to identify problems with controls and recommend improvements. Control practitioners design and implement technical and non-technical controls to prevent or detect unauthorized activity within an information system environment. Security professionals are responsible for identifying threats to an organization's security and implementing plans to prevent attacks.
In addition to offering member benefits such as education and resources, ISACA also conducts research relating to information systems governance, among other topics. The association has published several books including The Complete Idiot's Guide to Information Systems Auditing and Control and The Official Guide to Information Systems Governance.
ISACA was founded in 1972 and is based in Washington, D.C.
Quality Control for a Financial Statement Audit ISA 230: Audit Documentation ISA 240: The Auditor's Responsibilities in a Financial Statement Audit ISA 250: Consideration of Laws and Regulations in Financial Statement Auditing ISA 270: Special Problems Relating to Internal Controls in Large Public Companies ISA 280: The Auditor's Responsibility Regarding Internal Control Issues Overseeing the Audit: An Overview of FASB Staff Position Papers
The standards list is always changing. The articles on this page refer to the latest version available as of May 2015.
You can find all the articles on this site here: http://www.napasdac.com/financial-reporting/audits/
If you have any questions about these standards or financial statement audits in general, please contact me via email at [email protected] or call 707-257-9467.
An information system (IS) audit, often known as an information technology (IT) audit, is a review of the controls in an organization's information technology infrastructure. It is the process of gathering and analyzing evidence pertaining to an organization's information systems, processes, and operations. An audit should include testing and evaluating these components for compliance with organizational policies and procedures.
Information system audits can be performed at any level of granularity from the entire network down to an individual user. The type of audit that is conducted will depend on how much access the auditor has to the computer system under review. Audits with limited access may only be able to test specific areas of the system such as hardware or software configurations. Full-scale audits with direct operator interaction may be able to test all aspects of the system including security protocols.
Auditors need to understand what types of evidence can help prove compliance with organizational policies and procedures. For example, an auditor could use configuration management documentation to show that appropriate changes were made when required. This would demonstrate that the organization took care not to violate policy by altering existing settings without first making the change official. Configuration management records also provide evidence of who made which changes and when they were done. This evidence can help prove compliance with security policies such as those that prohibit changing default passwords. Configuration management records may also contain proof of compliance with other policies such as those related to data retention or backup procedures.
Accounting auditing is the examination of accounting documents, often financial statements, by a third-party CPA or CPA company. The standards for auditing entities in the United States are mostly derived from the Association of International Certified Professional Accountants (AICPA) and are referred to as Statements on Auditing Standards (SASs). Each SAS has several requirements that must be met before it can be issued. A firm must fulfill all SAS requirements to be able to issue an opinion on its own work.
In addition to issuing opinions on other people's work, accountants conduct their own audits to make sure they have conducted their work properly. Audits are used to identify any problems with an accountant's work papers, including issues such as errors in numbers or incomplete information. If problems are found, the accountant will need to correct them before providing an opinion on his or her own work.
An auditor should have knowledge of both general ledger practices and specific procedures used by the person being audited. In order to meet with this level of understanding, CPAs who audit others usually receive specialized training in financial statement preparation and review, as well as business operations.
With limited audits, only those items listed in the accompanying letter from the CPA providing the opinion are reviewed.
Computer auditing is a systematic and logical process that uses a risk-based approach to determine whether an entity's information systems, including its detailed information technology processes, controls, and activities, will achieve its IT objectives and, as a result, enable the organization to achieve its goals. Computer auditors need to understand how the organization uses its information systems and their components, identify risks to the organization associated with these systems, and propose improvements to address those risks.
Computer auditing is different from traditional auditing in several important ways: It uses a risk-based approach to identify and mitigate security risks to an organization's information systems. This means that it does not focus on identifying specific violations of policy or procedure but instead aims to provide a complete picture of an organization's information security posture. Computer auditing is also continuous rather than periodic. That is, computer auditors do not perform a full audit each time they conduct an activity regarding an organization's information systems; rather, they conduct audits as necessary to ensure an organization is taking all appropriate measures to protect its data.
Computer auditing is performed by individuals who have completed a rigorous training program that covers all aspects of computer security, from hardware and software configuration procedures to policies and practices for user access. The training program should include instruction on using analytical tools such as penetration tests to identify vulnerabilities in an organization's network infrastructure and applications.
A security audit is a high-level overview of the various methods in which businesses may test and analyze their overall security posture, including cybersecurity. To get your desired outcomes and accomplish your business objectives, you may use more than one form of security audit. For example, you may perform a penetration test to identify weaknesses in your defenses and make recommendations for remediation.
The main purpose of a security audit is to ensure that an organization's security measures are effective in preventing unauthorized access to information, while also being efficient and cost-effective. The audit should include testing of all major systems such as networking, computer hardware, software, and user practices. The report produced by the audit should address any deficiencies found during the examination and provide recommendations on how to improve security across the organization.
Audits can be performed by internal employees or by independent third parties who have been hired by the organization to evaluate its security measures. These individuals will conduct tests of specific components of the network infrastructure and user behaviors to determine if they are secure enough against potential attacks. They will also suggest improvements where necessary.
Internal audits are done by employees of the company who have no connection with the investigation of security breaches. These people work within the organization and are often assigned to perform regular monitoring activities or specific tests of its systems.