Print-friendly Course Description and Outline
Most development projects include financial, operational, and IT components. These projects tend to go off track when the project controls fail or are not enforced adequately. The involvement of the internal audit function is an additional management practice to ensure appropriate project governance, risk management, and realization of asset value.
The process is often subject to financial, operational, and political constraints and pressures. The result can be devastating if these are not addressed properly. Internal auditing can provide major value in reviewing the process by phase. Their contribution can involve both content (internal controls) and governance oversight. Using COBIT as a framework, attendees will develop an audit approach that achieves both objectives and incorporates the full resources of the internal audit function into the process.
This approach is a complement to the Auditing Systems Development and Project Management Audit/Assurance Program, available on the Information Systems Audit and Control Association website. The facilitator encourages utilizing maturity models and management reporting mechanisms routinely to evaluate and report the progress of a project as it proceeds through its life cycle.
This course is appropriate for internal auditors (IT, operational, financial) seeking to establish audit oversight and involvement in IT-enabled projects.
In this course, we will discuss the:
- Objectives of the IT-enabled project audit.
- Use of COBIT as a resource for control objectives.
- Reliance on the standard audit universe.
- Key phases in the project life cycle.
- Key control components by phase.
- Audit process by phase.
|Course Duration: 1 day(s)
|CPE Hours Available: 7
|Knowledge Level: Intermediate
|Field of Study: Auditing
Participants should have a minimum of two years of internal audit experience (or experience relevant to the content outlined above).
|Delivery Format: On-site Training (Group-Live)
Understanding the Project
- The components of a business project including defining IT-enabled projects, program vs. project, organizations involved in projects, and project management’s role (Business impact of a developed product
- Business risks associated with the project
- Systems development approaches
- Components of systems development
Establishing a Development Framework
- Project Management Body of Knowledge (PMBOK)
- Typical activities at each phase
- COBIT as a systems development framework
Three Objectives of the IT-enabled Project Management Review
Audit Scope Attributes and Their Components at Each Project Phase
- Project management
- Internal controls
- Business process
- Third-party providers and other external influences
Auditing Internal Controls
The Auditor as a Project Customer
Reliance on the Audit Universe
- General controls
- Application controls
- Financial interfaces
Using a Maturity Model to Establish Objective Assessment
Key Points for Success
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Contact us by calling +1-407-937-1388 or send an e-mail to GetTraining@theiia.org.