Guidelines for the Audit Committee's approach to Information Technology Risk
Challenges faced by Audit committees are ever increasing and expanding in scope. They are now being called upon to deal with a broad range of issues, and related risks, that go beyond financial statements, reporting and internal controls over financial reporting – the traditional areas of responsibility. IT risk is one of them.
The Audit Committee Position Paper 5 provides guidelines for the Audit committee’s approach to Information Technology Risk. The Position Paper will help Audit Committees better address the IT risks by providing a framework, and also help audit committee members ask the right questions.
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