What Is IT Audit Readiness And Why Should Small Business Owners and Startup Entrepreneurs Pursue It?

Understanding the design and implementation of controls in smaller audits: why and how.

Why IT Control Design And Implementation Is Important

Risk assessment is key to an ISA-compliant audit. They recognize that firms often obtain sufficient evidence to address the risks, even though the risk assessment process itself may not meet all the requirements. The risk assessment process is important though because without it, there is a danger that significant issues may be overlooked and the response to the risk assessment might not make sense. Standard work programs help ensure that nothing is missed but they are much more likely to work if the risk assessment process that supports them is sound.


Consideration of internal control and of the risk of fraud are both areas in which auditors often need to improve their risk assessment processes. In particular, auditors need to remember that internal controls are still relevant where a fully substantive audit approach is adopted, and to be more skeptical about the risk of fraud at long-standing clients.


Understanding internal control and documenting that understanding is a challenge for all audits, irrespective of the client’s size or complexity. In smaller, less complex entities controls are typically informal and undocumented, and potentially compromised by a lack of segregation of duties. However, the involvement of the owner-manager in the day-to-day running of the business can have a positive and a negative effect on the evaluation of risk.


Eden Data’s IT Control Design And Implementation Services

Our IT control design and implementation service provides advice on the controls and security related to the development and implementation of a new computer system with particular emphasis on control over the application itself including user procedures, programmed procedures, and computer controls. The first thing to recognize about our service is that there is a tremendous variety of ways in which we can assist clients in ensuring that new systems are controlled effectively. We can apply our basic skills in application and IT controls to assist clients at any or all stages of the systems development life cycle.


Eden Data Undertakes The Following Jobs:

  • A review at the system design stage to assist a development team to ensure that their design incorporated effective control procedures. This would involve a detailed analysis of the possible paths for each transaction and a recommendation of control features.
  • Assistance in the design of controls throughout major projects commencing with the establishment of an overall control structure and leading on to the development of a set of generic controls to be applied to the application process. The generic controls would be mapped against the process to produce a control design expressed in the form of control specifications that application programmers could implement.
  • We can be involved as a member of a project group conducting a package selection exercise. This includes a review of the selected package and a recommendation of key controls to be exercised by users at all locations within the organization and within the IT department.
  • Review of systems developed in-house. The output will include flowcharts of the application and recommended control procedures to be incorporated in internal user guidance on the system.


Why You Need Eden Data

Eden Data was built on disruption: disruption of the century-old professional services model. We chose instead to partner with various organizations that have completely dominated their respective industries by creating forward-thinking SaaS tools related to cybersecurity and data protection. We then worked together to enhance the value we bring to organizations by coupling our services and creating holistic solutions that address the classic adage ‘People, Processes, Technology’. 


The Eden Data Difference

Eden Data’s long-term vision is to create a future where companies can bring fantastic ideas to fruition using the internet while effortlessly maintaining appropriate data security and privacy. Eden Data focuses on the next generation of businesses that are ready to build security and privacy into their DNA, from their culture to their technologies to their entire operating processes. We are working to make information security a core pillar of every organization we have the pleasure of working with. 


Security That Works The Way You Do!

The product or service you provide to your customers is one-of-a-kind, so why shouldn’t your security program be? 

Traditional consulting firms have resumés a mile-long… serving corporations that look nothing like your company from an IT perspective. Why not hire a firm that operates just like you and works exclusively with companies just like yours? Call Eden Data today to learn more about IT control design and implementation.