IRM in External Audit

IRM in External Audit

IRM in External Audit team assists the audit team by providing assurance.

IRM in External Audit team assists the audit team by providing assurance.

Organisations depend on IT for complete and accurate financial reporting and external auditors, in their turn, rely on IT systems and controls for an efficient and effective audit.

IRM in External Audit team assists the audit team by providing assurance that the systems and applications used for the financial statements reporting are securely controlled and the related risks of error and fraud are minimized.

Our services are outlined below:

  • Support the entity level fraud risk assessment and the audit planning process to properly take account of IT risks and controls
  • Document and understand complex processes and controls using specific industry and technical experience
  • Support the audit team to help identify the key controls within a client’s business
  • Assess the design and effectiveness of IT general controls and application controls
  • Support the substantive testing phase of the audit by:
    • Confirming the accuracy of financial consolidations using an automated tool
    • Testing data migrations when a new financial system is implemented
    • Using Computer Assisted Audit Techniques (CAATs) to provide audit assurance by testing large portions of the population

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