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A Standardized Financial Statement Auditing Framework
For The CLOUD Ecosystem
TESTING: STRATEGY PROCEDURES CASES
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Atlanta: TBD
New York City: TBD |
Las Vegas: TBD
San Francisco: TBD |
Washington DC: Sep. 3-5
Chicago: TBD |
Dallas: TBD
Los Angeles: TBD |
BACKGROUND
Technology is ever changing and so have the principles, methods and tools for auditing financial statements in this 21st century CLOUD environment. The advent of CLOUD technologies have introduced new system architectures such as: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) and their derivative services such as Security-as-a-Service, Storage-as-a-Service, Anything-as-a-Service. Due to these new IT service models, businesses and government agencies that once operated their own data centers are now outsourcing their IT functions to IT service providers at various levels of the cloud ecosystem.
Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) computing platforms and their derivative services such as Security-as-a-Service, Storage-as-a-Service enable IT service providers to provide specialized data processing, networking, data security, data storage, and application hosting services to companies and government agencies on an a la carte basis.
Data in the CLOUD ecosystem is continually in motion between IaaS, PaaS and SaaS layers of the CLOUD architecture. Data remains in motion in the CLOUD until it reaches its final destination in the financial statements. Sometimes the resulting financial statements are further distributed electronically which adds another dimension to data security and data processing integrity that auditors should be aware of. Likewise, data in motion can cross international borders in violation of a country’s regulations.
Implementation of Application Programming Interfaces (APIs) further exacerbates the challenges financial statement auditors face when they are auditing financial data that is processed and stored in the CLOUD ecosystem. In the CLOUD ecosystem, financial data is constantly moving from one third-party provider servers to another and APIs technology play and key role in transporting data and datasets to their final resting place on the company’s server or government agency’s server and ultimately in the company’s financial statements. For example banking institutions transmit companies banking and investment data electronically to the companies’ accounting department and their auditors. Payroll service providers are responsible for processing companies payroll, making payments directly to state and federal tax authorities and transmitting the payroll and tax file electronically to designated servers that are accessibly by the companies’ accounting department and their auditors. Ultimately, data from these diverse sources end up in the company’s financial statements. Some APIs are also used to modify data while in motion in the CLOUD. API consists of complex algorithms that are constantly modifying and transporting data in the CLOUD. As CLOUD technologies continue to evolve, financial institutions, companies, government agencies and their auditors will have to adopt new ways of tracing, reconciling, verifying, validating, and testing financial data as various points in the CLOUD ecosystem.
Accountants and internal auditors who want to understand how their companies' employees benefits, payroll, e-commerce and banking data is being processed in the CLOUD will benefit immensely from taking this course. CPAs in public accounting practice who are providing SOX readiness and IT auditing services to their clients will be able to fulfill their due diligence responsibilities of examining and reporting on application controls and IT general controls in the CLOUD Ecosystem.
This 3-day course is designed to introduce participants to the underlying fundamentals of Information Technology (IT) and the principles, standards and rules for auditing financial statement production and operations in the CLOUD ecosystem.
Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) computing platforms and their derivative services such as Security-as-a-Service, Storage-as-a-Service enable IT service providers to provide specialized data processing, networking, data security, data storage, and application hosting services to companies and government agencies on an a la carte basis.
Data in the CLOUD ecosystem is continually in motion between IaaS, PaaS and SaaS layers of the CLOUD architecture. Data remains in motion in the CLOUD until it reaches its final destination in the financial statements. Sometimes the resulting financial statements are further distributed electronically which adds another dimension to data security and data processing integrity that auditors should be aware of. Likewise, data in motion can cross international borders in violation of a country’s regulations.
Implementation of Application Programming Interfaces (APIs) further exacerbates the challenges financial statement auditors face when they are auditing financial data that is processed and stored in the CLOUD ecosystem. In the CLOUD ecosystem, financial data is constantly moving from one third-party provider servers to another and APIs technology play and key role in transporting data and datasets to their final resting place on the company’s server or government agency’s server and ultimately in the company’s financial statements. For example banking institutions transmit companies banking and investment data electronically to the companies’ accounting department and their auditors. Payroll service providers are responsible for processing companies payroll, making payments directly to state and federal tax authorities and transmitting the payroll and tax file electronically to designated servers that are accessibly by the companies’ accounting department and their auditors. Ultimately, data from these diverse sources end up in the company’s financial statements. Some APIs are also used to modify data while in motion in the CLOUD. API consists of complex algorithms that are constantly modifying and transporting data in the CLOUD. As CLOUD technologies continue to evolve, financial institutions, companies, government agencies and their auditors will have to adopt new ways of tracing, reconciling, verifying, validating, and testing financial data as various points in the CLOUD ecosystem.
Accountants and internal auditors who want to understand how their companies' employees benefits, payroll, e-commerce and banking data is being processed in the CLOUD will benefit immensely from taking this course. CPAs in public accounting practice who are providing SOX readiness and IT auditing services to their clients will be able to fulfill their due diligence responsibilities of examining and reporting on application controls and IT general controls in the CLOUD Ecosystem.
This 3-day course is designed to introduce participants to the underlying fundamentals of Information Technology (IT) and the principles, standards and rules for auditing financial statement production and operations in the CLOUD ecosystem.
TOPICS COVERED
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LEARNING OBJECTIVES
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CHAPTER 1: How to Conduct Service Level Agreement (SLA) Testing
CHAPTER 2: Migration to the CLOUD: A Use Case CHAPTER 3: How to Conduct Data Migration API Testing CHAPTER 4: How to Conduct Legacy System-CLOUD Interface Testing CHAPTER 5: How to Conduct Data Migration Configuration Management and Version Control Testing CHAPTER 6: How to Conduct Migration Baseline Configuration Testing CHAPTER 7: How to Conduct Base CLOUD Platform Testing CHAPTER 8: How to Conduct Derivative CLOUD Platform Testing CHAPTER 9: How to Conduct Base-Derivative CLOUD Interface Testing CHAPTER 10: How to Conduct SaaS Financial Workflows Controls and Data Integration Testing CHAPTER 11: How to Conduct PaaS Financial Controls and Data Integration Testing CHAPTER 12: How to Conduct IaaS Financial Controls and Interface Testing CHAPTER 13: How to Conduct Transaction Data Life Cycle Testing CHAPTER 14: How to Conduct Accounting Cycle Data Integration Testing CHAPTER 15: How to Conduct Continuous Auditing and Statistical Sampling in a "Big Data" Environment CHAPTER 16: How to Identify, Map and Test Financial Controls Across IaaS, PaaS, and SaaS Platforms CHAPTER 17: How to Conduct Production Configuration Management and Version Control Testing CHAPTER 18: How to Conduct Production API Testing CHAPTER 19: How to Conduct Computer Forensics Investigation in Financial Statement Production Operations CHAPTER 20: How to Conduct Disaster Recovery and Business Continuity Testing CHAPTER 21: How to Document Transaction Cycles and Related Data Flows for Effective Data Flow Testing CHAPTER 22: How to Document Accounting and Financial Reporting Cycle and Related Data Flows for Effective Data Flow Testing CHAPTER 23: How to Conduct Transaction Cycles and Related Workflows Testing CHAPTER 24: How to Conduct Accounting and Financial Reporting Cycles and Related Workflows Testing CHAPTER 25: How to Conduct Segregation of Duties Testing CHAPTER 26: How to Evaluate Electronic Evidence CHAPTER 27: How to Identify, Document, and Test Relevant Business Process, Accounting and Financial Reporting Controls in the Event Logs and Metadata Files CHAPTER 28: How to Document and Gather Electronic Evidence into Acceptable Audit Work Papers Format and for Admissibility of Electronic Evidence CHAPTER 29: How to Test Relevant Financial Controls in a Virtualized Environment CHAPTER 30: CLOUD Auditing Checklists At the conclusion of this course you will be able to:
Review Service Level Agreements (SLAs) and conduct Testing to ensure service providers are fulfilling their roles and responsibilities. Identify and document data objects to be migrated to the CLOUD and conduct data migration testing. Document API functionality and conduct data migration API testing. Test legacy System interface with the IaaS, PaaS, and SaaS CLOUD platforms. Conduct data Migration Configuration Management (CM) and Version Control (VC) testing in the CLOUD. Conduct data migration baseline configuration testing. Conduct base CLOUD platform testing. Conduct derivative CLOUD platform testing. Conduct base-derivative CLOUD interface testing. Conduct SaaS financial workflows controls and data integration testing. PaaS financial workflow controls and data integration testing. IaaS financial controls and interface testing. Document transaction data life cycle and test the relevant controls. Conduct accounting cycle data integration testing. Identify key data points to conduct continuous auditing and statistical sampling in a "Big Data" Environment. To identify, map and test financial controls across IaaS, PaaS, and SaaS platforms. Conduct production Configuration Management (CM) and Version Control (VC) testing. Document production APIs and conduct production API testing. Determine the need for computer forensic investigation and how to select the appropriate tool set to conduct computer forensics investigation in financial statement production operations. Review Disaster Recovery (DR) and Business Continuity (BC) and conduct DR and BC testing. Document transaction cycles and related data flows for data flow and data integrity testing. Document accounting and financial reporting cycle and related data flows for effective data flow testing. Conduct transaction cycles and related workflows testing. Conduct accounting and financial reporting cycles and related workflows testing. Conduct segregation of duties testing in the CLOUD. Evaluate electronic evidence that is generated in the CLOUD. Identify, document, and test Relevant business process controls; accounting and financial reporting controls in event logs and metadata files. Document and gather electronic evidence into acceptable audit work papers for admissibility in court. Test financial controls in a virtualized computing environment Develop CLOUD Auditing Checklists. |
STUDENTS WILL RECEIVE THEIR COURSEWARE ON TABLETS THAT WILL BE USED TO DOWNLOAD UPDATES TO THE COURSEWARE
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AGENDA
AGENDA
INSTRUCTOR BIO
Robert Llewellyn Kilby, CPA, CITP, CCSK
Robert is a former exam writer of the AICPA Certified Information Technology Professional (CITP) and CPA exams. He is one of the 16 writers of the first CITP exam. Robert is executive director of 247 Continuous Auditing, LLC (a PCAOB registered CPA firm). He is a graduate of the University of Maryland – College Park where he majored in Accounting, Information System Management and Telecommunications Management. Robert has more than 25 years of experience working with Fortune 100 companies including MCI Telecommunications Corporation, IBM, BellSouth, the Southern Company and Harbinger Corporation in management. In a management consulting role Robert was responsible for system development, software quality assurance, SOX readiness assessment, SAS 70®, SOC 1® and SOC 2® lead auditor and IT auditor. As senior partner of Independent Software Certification, Robert served in a lead audit role. His SAS 70 audit engagements include the State of West Virginia Powerball lottery and instant lottery systems, the State of Mississippi, Washington D.C., the State of Massachusetts, and the State of Georgia Medicaid Management Information System (MMIS) and Prescription Benefit Management (PBM) systems. He is Training Director of the American Institute of CLOUD Auditors (AiCA). Robert is co-author of the AiCA SKYBLUE Book Series. He is a Certified CLOUD Security Knowledge (CCSK) credential holder.
Robert is a former exam writer of the AICPA Certified Information Technology Professional (CITP) and CPA exams. He is one of the 16 writers of the first CITP exam. Robert is executive director of 247 Continuous Auditing, LLC (a PCAOB registered CPA firm). He is a graduate of the University of Maryland – College Park where he majored in Accounting, Information System Management and Telecommunications Management. Robert has more than 25 years of experience working with Fortune 100 companies including MCI Telecommunications Corporation, IBM, BellSouth, the Southern Company and Harbinger Corporation in management. In a management consulting role Robert was responsible for system development, software quality assurance, SOX readiness assessment, SAS 70®, SOC 1® and SOC 2® lead auditor and IT auditor. As senior partner of Independent Software Certification, Robert served in a lead audit role. His SAS 70 audit engagements include the State of West Virginia Powerball lottery and instant lottery systems, the State of Mississippi, Washington D.C., the State of Massachusetts, and the State of Georgia Medicaid Management Information System (MMIS) and Prescription Benefit Management (PBM) systems. He is Training Director of the American Institute of CLOUD Auditors (AiCA). Robert is co-author of the AiCA SKYBLUE Book Series. He is a Certified CLOUD Security Knowledge (CCSK) credential holder.
PRICING REGISTRATION GROUP & MEMBERSHIP DISCOUNTS
Visit the store to register and take advantage of our group and membership discounts. ENTER HERE....
In order to be awarded full credit hours for this course, you must be present for the entire time of the course duration.
You must sign in prior to the commencement of the session and sign out when the class is over. An attendance log will be available at the registration desk at the entrance of the conference room where the session will be held.
Participants will earn: 24 CPE credits
Field of Study: Auditing (Technical):
ADDITIONAL INFORMATION:
Prerequisites: Basic knowledge of auditing
Who Should Attend: CPAs and accounting professionals
Advanced Preparation: None
Program Level: Intermediate
Delivery Method: Group Live
You must sign in prior to the commencement of the session and sign out when the class is over. An attendance log will be available at the registration desk at the entrance of the conference room where the session will be held.
Participants will earn: 24 CPE credits
Field of Study: Auditing (Technical):
- Auditing and Reports - Subjects related to IT Auditing Standards and procedures
- Auditing – General
- Auditing Research
- ERISA Auditing
- Forensic Analysis and Evaluation
- Planning and Supervision
- Study, Evaluation, Implementation and Monitoring of Internal Controls
- Substantive Audit Procedures - Subjects related to activities performed by the auditor (during the substantive testing stage of the audit) that gather evidence as to the completeness, validity and/or accuracy of account balances and underlying classes of transactions
- Technical Computer Software and Applications – Subjects, especially CLOUD platforms that focus on the application of software in an auditing practice including understanding the issues in auditing Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS) and the derivative services (Security-as-a-Service, Storage-as-a-Service, etc.) of these three base-CLOUD platforms and applying IT auditing principles.
ADDITIONAL INFORMATION:
Prerequisites: Basic knowledge of auditing
Who Should Attend: CPAs and accounting professionals
Advanced Preparation: None
Program Level: Intermediate
Delivery Method: Group Live
REFUND & CANCELLATION POLICY
Requests for refunds must be received in writing before the course session begins and will be subject to a cancellation fee. No refunds will be granted after the course begins. For more information regarding refund, complaint, and/or program cancellation policies please email inquiries to [email protected]. Don’t forget to put “REFUND” in the subject line.
NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) REGISTRATION REQUIREMENTS
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American Institute of CLOUD Auditors is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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TRAVEL & ACCOMMODATION
TBD