IT Audit

Introduction

Over the past decade, companies across all industries have been heavily investing in cloud technology. While they’re hoping to gain a competitive edge by staying up to date, new technology adoptions always come with new risks in the form of hacks and data breaches. Since such incidents could be detrimental to any organization, technology risk management and understanding the importance of IT audits have become increasingly important.

Learn all about IT audits, the role of an IT auditor, and how they can protect your company from information security incidents.

What is an IT Audit?

An IT audit or information technology audit is an investigation and evaluation of IT systems, infrastructures, policies, and operations. Through IT audits, a company can determine if the existing IT controls protect corporate assets, ensure data integrity and align with the organization’s business and financial controls.

While most people are familiar with financial audits that evaluate an organization’s financial position, IT audits are still a fairly new phenomenon that is now gaining more importance due to the rise of cloud technology. The purpose of an IT audit is to check on security protocols and processes in place and IT governance as a whole.

As an unbiased observer, an IT auditor makes sure that these controls are properly and effectively installed, so the company is less vulnerable to data breaches and other security risks. However, even if adequate security and compliance are provided, there has to be a line of action in case of an unlikely event that would threaten the health and reputation of the examined business.

Next, learn more about an IT auditor’s role, skills, responsibilities, and certifications.

IT Auditor role

An IT auditor develops, implements, tests, and evaluates all IT audit review procedures within a company that relies on technology. These audit procedures can extend to networks, software applications, communication and security systems as well as any other systems that are part of the organization’s technological infrastructure.

By conducting IT-related audit projects and following established IT auditing standards, IT auditors have an essential role in ensuring that an organization and its sensitive data are protected from external or internal security threats. After all, just a small technical error can have a devastating impact on the entire organization.

IT Auditor responsibilities

Now you know why IT auditors have such an important role within a company relying on technology. But what do their actual responsibilities look like in practice? Below, we’ve outlined the most important ones.

• Development and planning of audit test plans
• Determining audit scope and objectives
• Coordination and execution of audit activities
• Adhering to auditing standards established by the company
• Development of detailed audit reports
• Identifying best practices for meeting audit requirements
• Maintain and update IT audit documentation
• Communicating audit findings and recommendations
• Ensuring that previous recommendations have been implemented

IT Auditor skills

The skills required for the job of an IT auditor may differ depending on which industry they work in. However, there is a general set of skills that most companies are looking for when hiring an IT auditor. These skills include:

• Formal qualifications: This may not be required at all companies but can help IT auditors in applying a systematic approach to their work.
• Practical experiences: Previous work experience in data security and IT auditing is always a plus.
• Understanding core business processes: This helps the IT auditor in linking IT systems to the value they bring to the business.
• Understanding key IT processes: This allows the IT auditor to prioritize IT risks.
• Strong analytical and logical reasoning ability: IT auditors should be able to use data analysis and visualization tools.
• Strong communication skills: This ability is necessary for explaining complex security issues to non-technical management teams.

IT Auditor salary

With the adoption of new cloud technologies, it does not come as a surprise that the position of an information technology auditor is in high demand. After all, companies of all sizes and across all industries have been leaning into new technology trends. So, what does an IT auditor actually earn?

Depending on experience, qualifications, and location, an IT auditor’s salary can range from $44k at the lower level to $143k for IT auditor directors or managers. This means that the average annual pay for an IT auditor working in the United States is currently at $93k per year or $45 per hour.

IT Auditor certifications

IT auditors can increase their chances of getting hired and being paid well if they acquire job-related certifications. Below are the two most common ones.

• Certified Information Systems Auditor (CISA): This certification is offered through the ISACA. It is specifically designed for information security professionals and information technology auditors. Before IT auditors can earn this certificate, they need at least five years of professional experience in the field of IT auditing.
  
  
• Certified Information Security Manager (CISM): This certification targets information security managers and focuses on the design and maintenance of information security programs. To earn this certificate, individuals need at least five years of IS experience and three years of working as a security manager.