IT Examiner School - Oct 2025

Internal Use Only

Audit Component Rating Areas to focus on when rating IT Audit component adequacy:

• Independence and quality of oversight • Audit risk analysis methodology/resources applied • Scope, frequency, accuracy, and timeliness of audit reports • Extent of audit participation in SDLC to ensure effectiveness internal controls and audit trails • Audit plan in providing appropriate coverage of IT risks • IT auditor’s adherence to code of ethics/professional standards • Qualifications of IT auditors • Timely and formal follow-up and reporting on management’s resolution of identified issues/weaknesses • Quality and effectiveness of internal and external audit activity related to IT controls

Internal Use Only

Summary • Audits are a necessity whether performed by in-house and/or external resources • Must be performed by independent and qualified individuals/companies/firms • Based on a current risk assessment • Must provide written, detailed, stand-alone reports • Results must be reported to the Board’s Audit Committee or a related Board Committee in a timely manner • Audits can aid in exam scope reduction • If the audit function appears deficient, you don’t need to keep going, document and support your conclusion