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| Author: | Quinn, L. R. |
| Title: | Risky Business |
| Journal: | Journal of Accountancy
2002 : JUN, VOL. 193:6, p. 65-70 |
| Index terms: | RISK RISK MANAGEMENT AUDITING INFORMATION TECHNOLOGY |
| Language: | eng |
| Abstract: | The author states that internal audit teams up with the audit committee to tackle IT security needs. The author also states that CPAs acknowledge the importance of being proactive on IT security issues but often find it difficult getting corporate boards and audit committees to realize IT security protection requires ongoing, consistent investment in talent and technology. Those who perform it auditing must report their risk management concerns to boards in a framework they can understand-cost/benefit analyses, for instance, or concrete comparisons of IT risks with physical or market risks. The author states that companies have critical information assets consisting of customer files and transactions, strategic business plans and marketing strategies, budgets and other financial information. |
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