The effectiveness of an information system’s controls is evaluated through an information systems audit. An audit aims to establish whether information systems are safeguarding corporate assets, maintaining the integrity of stored and communicated data, supporting corporate objectives effectively, and operating efficiently. The scope of IT audit depends on the nature and size of the business. It would ideally encompass all the IT resources, including hardware, software, networking, plans, policies, procedures, and systems. It is performed on a yearly basis.
An information system audit helps in improving the efficiency and effectiveness and reliability of the IT system by assessing and covering a wide range of threats in the organization. IT audit helps improve governance with regard to risks and control of the firm’s technological environment. Also IT department and the employees of the company can ensure that all the laws, compliances, and regulations are always met. IT Audit after assessing the risk and errors, can also evaluate and identify the solutions. It gives the organization scope to reconstruct and redesign the control system.