CA FINAL ONLINE ISCA CLASSES: CHAPTER 6 Auditing of IS (FULL) | Memory Technique

Chapter 6
Auditing of Information Systems

Introduction to this Chapter:
Information Systems have become an integral part of our day-to-day life. From morning till evening, all humans interact With systems, in one form or another. The increased usage of technology has its pitfalls. Organizations need to rely more on technology for their day-to-day jobs, e.g. management decision making and all business related activities. As the usage of technology and information system is increasing, associated risk with technology is also imposing several threats to the information systems.
More and more use of technology and the increased instances has made it imperative for organizations to place proper controls. Controls can be classified based on nature say, preventive, detective and corrective or based on some other parameters Ike physical, logical or environmental. More classifications are also possible like based on the asset they protect; the detail discussion has already been done in Chapter 3 of the study material.


CA FINAL ONLINE CLASSES: ISCA CLASSES

TOPICS COVERED SO FAR:

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CHAPTER Sr no. # TOPICS
CHAPTER 6 6.2.2 Effect of Computers on Audit
6.3.4  Steps in Information System Audit
CHAPTER 6 Classification on the basis of "Audit Functions"
6.7 *Managerial Control & their Audit Trail
6.7.2 *System Development Management Control
CHAPTER 6 6.8 *Application Control & their Audit Trail
This is a consolidated post i.e all the topics/mnemonics/classes/videos shared earlier which are related to this Chapter will be covered here. For all the topics of ISCA subject check out the index given or just Click HERE Topic serial number reference will be from the ICAI module. TOPIC # 6.2.2

Effect of Computers on Audit

  • Changes in Evidence Collection
  • Changes to Evidence Evaluation
EVIDENCE COLLECTION
  • Data Retention and Storage
  • Absence of Input 
  • Non-availability of Audit trail
  • Lack of availability of Printed output
  • Audit evidence
  • Legal issues
EVIDENCE EVALUATION
  • System generated transactions
  • Automated transaction processing
  • Systematic Error
Mnemonic of this topic relates to Advocate & Judge. For more details watch the video class given down below.  Topic # 6.3.4

Steps in Information System Audit

  1. Scoping and pre-audit survey
  2. Planning and preparation
  3. Fieldwork
  4. Analysis
  5. Reporting
  6. Closure
Mnemonic: STEPS OF ISCA PAPER
To remember this topic with the help of Mnemonics, watch the class video given below on our YouTube Channel. Topic no. #6.2.2 & #6.3.4 is covered in the video class given below. Watch the Class here:
Topic # 6.7  Managerial Control and their Audit Trail Topic # 6.7.2 System Development Management Controls Topic # 6.8  Application Control and their Audit Trails These topics are already covered in our previous post which has a linkage with chapter-3. Link to that post is given below.

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