Discussions of robotic process automation (RPA) and artificial intelligence (AI) tend to follow separate tracks. This has been a function of the way these technologies have been marketed and sold. This is changing as companies realize that both RPA and AI are required to achieve any significant degree of end-to-end process automation.
Topics: IT Strategy, IT Controls, Robotic Process Automation, Machine Learning, Artificial Intelligence
Many businesses today exchange goods, services, information and knowledge using network-enabled technologies. Within such business, the proper protection of confidential information is essential to achieve the desired benefits and mitigate the associated risks. Failure to adequately restrict access to critical business information from outsiders (intruders) may result in unauthorized knowledge and use of confidential information by inappropriate parties.
Topics: IT Audit, Governance, Risk & Compliance, IT Infrastructure, IT Security, IT Risk, Performance Management/Measurement
Why are we meeting? What are the objectives of the self-assessment meeting?
Defining the meeting objectives is the most important aspect of planning a self-assessment meeting. This requires members of the audit team to meet with the auditee in advance to determine their needs and wants. For example, the auditee may ask the auditor to facilitate a self-assessment meeting at the organizational level designed to:
Topics: Audit Planning, Self-Assessment, Performance Management/Measurement
A budget is a systematic method of allocating financial, physical and human resources to achieve strategic goals. Companies develop budgets in order to monitor progress toward their goals, help control spending, and predict cash flow and profit.
Topics: Accounting/Finance, Cash & Treasury, Performance Management/Measurement, Budgeting
The focus on customer relationship management (CRM), also known as customer care or customer service, has been growing steadily for the last few years. Companies must implement robust CRM solutions to ensure that they are competitive now – and in the future. Customer service entails every aspect of selling and servicing a customer in both the pre-sale and post-sale stages, from merchandise questions to credit card security and delivery status to processing refunds, exchanges and returns.
Cash flow management is the mobilization of company funds, the investment of these funds to produce income and compensation of the banks that support the process. Cash managers use most noncredit services of banks, as well as of some nonbanks.
Topics: Risk Assessment, Investments & Foreign Exchange, Accounting/Finance, Process-Level Control, Cash & Treasury
There are distinct differences between SOC 1 and SOC 2 reports, but these reports also certainly overlap. For example, the security principle in a SOC 2 report refers to the protection of the system from unauthorized access (logical and physical) and limited access to the system to prevent potential system abuse; resource theft; software misuse, improper access or usage; and the alteration, destruction and disclosure of information.
As we start another year, we love to look back and make note of the audit tools and publications that were most popular with you all over the past 12 months. This year's Top 25 list has variety--we see some classics, some surprises, and a lot of content that should be useful for completing your audit projects throughout 2020 and beyond. Check out the full list and enjoy!
Defined policies and procedures play an integral role in efficient and effective company operations. They are also key to the company’s internal control environment.
Data integrity is the assurance that information can only be accessed or modified by those authorized to access the system. Measures taken to ensure integrity include controlling the physical environment of networked terminals and servers, restricting access to data, and maintaining rigorous authentication practices. Data integrity can also be threatened by environmental hazards, such as heat, dust and electrical surges.
Topics: IT Audit, IT Infrastructure, Cloud Computing, IT Risk, IT Controls, Data Security, Data Analytics, Performance Management/Measurement, Customer Satisfaction
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