An IT audit is important for any type of business because it provides key information about the IT infrastructure and opportunities for optimization. Many companies, regardless of industry, are investing more and more resources in technology. Although this is a strategic move, it will yield the desired results only if these efforts are targeted in the right areas.
Whether it’s money, time, or human resources, technology can have a palpable impact on a business if the right improvements are made. Therefore, it is important to understand software audit services, their advantages, and how to conduct them.
Who is it for?
Software audit services allow you to assess the security status of a software system by analyzing various aspects that can range from license compliance checks, application architecture checks, source code protection, and even quality control. So public or private organizations, including small and medium-sized businesses, that want to be more resilient and secure against cyber threats to ensure business continuity may need such an audit.
What is a software audit?
An audit is an investigation or examination of a system, entity, or report. In this case, the software audit service is a review of systems, applications, management, operations, data usage, and other IT-related processes.
Such an audit can determine whether IT controls protect corporate files, meet overall business goals, and ensure database integrity. An auditor typically reviews not only physical security controls but also financial and business controls involving information technology systems.
The main stages of a software audit
The audit of the software environment and information systems, as a rule, takes place according to the same procedure as the audit of financial statements.
Thus, like most types of audit, it consists of four main stages, namely:
- Planning;
- Testing of control bodies;
- Physical evidence;
- Passing an audit and writing a report.
At each of these stages, evidence is accumulated that serves as a basis for confirming the conclusions drawn by the auditor(s), for example from SECL Group.
Advantages of a software audit
Minimizes organizational risks
Assessment of risks and vulnerabilities of the operating system or information security as a whole is part of the point of view with which the software audit process is approached. Thus, this type of audit reduces the opportunities and risks that arise in the organization in relation to its IT system.
One of the main risks that can arise is risks related to confidentiality, which can compromise the integrity of the information of staff, customers and managers. Early detection of these threats through due diligence is a key element of quality audit work.
Fraud detection and prevention
Constantly evaluating and improving your IT procedures helps protect your business against fraud and hacking of your IT systems. When you have an active and diligent audit system, the ability to respond is much more flexible, and a more far-reaching prevention scheme is built overall.
Increasing compliance with IT requirements
The software audit can determine whether all team members adhere to company policies, strengthening internal controls. This benefits IT management by providing a better understanding of the additional risks associated with IT systems.
How to properly conduct an audit in the company
Let’s consider the steps that must be taken to conduct a software audit in your organization.
1. Planning
The first decision to make is whether to conduct an internal audit or hire an external auditor to provide an expert view of your IT systems. If you want to have more security and guarantee that everything is going well, you can conduct regular internal reviews, and hire an external audit firm to conduct an annual review, with more specialization and depth.
Regardless of which option you choose, the following should be decided when planning the audit:
- Who will be the responsible auditor, internal or external?
- When will the audit take place?
- What processes to set up to prepare your team for an audit?
2. Preparation for the audit
Once you’ve decided who will conduct the audit and established a general time frame, you should work with your team to prepare for execution.
There are a number of aspects that must be resolved at this stage:
- Audit objectives;
- Scope, i.e. which areas should be assessed and with what level of detail;
- How the audit will be documented;
A schedule detailing which departments will be assessed, on which days, and how much time each department should plan to spend on the audit.
3. Audit performance
If the above actions were performed correctly, then the next stage will be the simple implementation of the plan that was set. However, keep in mind that even the best-laid plans can go wrong, so be prepared to overcome any possible obstacles. Therefore, make sure that you set sufficient time frames that take into account different types of contingencies.
4. Reporting on results
After completing an IT audit, it is necessary to have a significant amount of documentation along with notes, conclusions, and suggestions from the auditor for example from SECL Group. Ultimately, it will serve to optimize decision-making, as well as for the accurate use of future audit procedures.
At this stage, the information should be synthesized into an official audit report. This document, once provided to interested parties, should be archived for future reference and to assist in the planning of future audits.
The report should summarize what was evaluated, highlight any aspects that the IT department is doing right or wrong, and analyze the points that do not need to be changed. It is also necessary to explain what the next steps will be to eliminate the identified risks.
5. Further actions
Most or many IT infrastructure vulnerabilities are caused by human error. Therefore, human error is more likely to interfere with the solutions your team implements to correct the risks identified by the audit. Because of this, it is necessary to set a date to follow up with each team and make sure that the solutions have been implemented correctly and continue to work.
Conclusion
An IT systems audit will provide you with the information and data you need to ensure your policies, operations, and infrastructure are exactly where they need to be. Thus, it enhances preventive actions and protects the security of your computer, which also effectively affects the financial position of your organization.