Audit •Manual •Audit •Automated •Continuous processes & management monitoring monitoring separate IT audit software module and immediate paper and response •Work •Alarm preparation follow-up Most of audit • software process automated Audit •Independent •Independent •Shared •Purposeful and and with systems and Parallel Adversarial some core resources systems and monitoring where common overlap shared natural infrastructures process synergies allow degree and IT •Financial •Some •IA •Centralized of organization of and integrates audit supervises audit coordination coordinate with risk function and matrix to between the risk management, Board of areas of risk, management compliance director auditing and and share and SOX/ compliance automatic layer with IT audit audit external audit. works processes independently •Auditing links financial to operational processes ratios level •Financial •Financial •KPI •Corporate ratios at monitoring models of methods sector the main •Structural level/account continuity sectors of the level equations business warning •Monitoring •Early at system transaction level
Audit •Manual processes & separate IT audit •Audit management software •Work paper preparation software •Automated monitoring module •Alarm and follow-up process •Continuous monitoring and immediate response • Most of audit automated Audit and overlap •Independent and Adversarial •Independent with some core monitoring shared •Shared systems and resources where natural process synergies allow •Purposeful Parallel systems and common infrastructures of audit function •Financial organization supervises audit and matrix to Board of director •Some degree of coordination between the areas of risk, auditing and compliance IT audit works independently •IA and IT coordinate risk management and share automatic audit processes •Auditing links financial to operational processes •Centralized and integrates with risk management, compliance and SOX/ layer with external audit. methods •Financial ratios •Financial ratios at sector level/account level •KPI level monitoring •Structural continuity equations •Monitoring at transaction level •Corporate models of the main sectors of the business •Early warning system
Paper-11.docx