IS Audit Professional Opportunities

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Gearing-Up for IS Audit Opportunities

Business Enterprises and Government Departments are making increasing use of Information Technology to better manage their operations and offer value added services to their clients/ citizens. While this increasing deployment of IT has given emmense benefits there have been increasing concerns on the effeciency and effectiveness of the massive investments made in IT, apart from the safety and security of Information Systems themselves and data intigrity. As enterprises are increasingly getting dependent on IT Resources to manage their core business functionality, the Business Continuity is increasingly dependent on the continuity, effeciency and effective of Information Systems deployment.

Sarbanes Oxley Act and Clause 49 of the listing requirements require companies to certify existance of sufficient controls/ checks & balances, which are today implemented as a part of the IT Implementations, and there is an increasing need for IS Audit Services, just like Statutory Audit, Bank Audits, Internal Audits, Compliance Audits.

Chartered Accountants, as the traditional trusted assurance providers to businesses and regulators, with their unique education and training, understanding of Business Requirements and laws of the land, are being increasingly relied upon to provide value added services in the field of IS Audit/ Systems and Process Assurance.

The Committee started offering Post Qualification Course on IS Audit (ISA) to provide the necessary training and development through a structured learning process of Professional Training of 100 hours, Self-Study of 200 hours and testing at two levels - Preliminary and Final, leading to the Post Qualification Degree - D.I.S.A. (ICAI).

There is an increasing practice in Audit Firms to deploy a member of the IS Audit/ SPA Team in all audit teams, as the operations of most enterprises are today managed through increasing deployment of IT. There is a requirement of one D.I.S.A. (ICAI) member for Bank Audits. Currently, there is also a professional requirement of Systems Audit of Stock Brokers of NSE/ BSE. Computer Emergency Response Team of India (CERT-In) has recognized the D.I.S.A. (ICAI) qualification for empannelment of IS Auditors.

In addition to aforesaid requirements, ISA qualified members need to promote greater use of IS Audit Services by their clients.

As we all appreciate, a course is a begining, and not the end, of a learning/ development process. There is so much that we learn while we practically undertake audits, manage taxation cases and professional assignments. The need to develop further in the IT area is increasingly required considering the high rate of development/ obsolosence in the IT field. The Committee has launched a number of initiatives to develop further - courses/ seminars/ conferences/ practical workshops/ e-Learning courses/ technical guides/ IT Harmony - monthly eNewsletter of the Committee, details of which are available in different sections of this portal. Members are requested to develop competencies in IT area to enhance the effeiciency and effectiveness of their operations and to offer value added services in increasing demand.

It is pertinent to note that regulators are increasingly concerned about the IS Audit services being provided by professionals in the country, take the case of CERT-In is reviewing the capabilities of its IS Auditors by testing them on a Test Bed with typical grey areas. It is hence pertinent for members to keep developing their capabilities to survive and grow in the emerging economy of the country.

The Committee welcomes views and suggestions from members on the initiatives that it can take to better equip the members to face the challenges ahead and the assistance they can provide in this regard, through a questionnaire available at the following link:

  Questionnaire - Gearing UP for IS Audit Opportunities  
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