The AICPA CITP Body of Knowledge is supplemented by sections of the AiCA CLOUD Auditing Framework courseware. This augmentation to the CITP Review Course knowledge-base overcomes the new challenges
CLOUD technology has imposed on CITPs. This added dimension to the AICPA CITP Body of Knowledge will
bring you up to speed with CLOUD technology that drives today's business operating environment.
CLOUD technology has imposed on CITPs. This added dimension to the AICPA CITP Body of Knowledge will
bring you up to speed with CLOUD technology that drives today's business operating environment.
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The advent of CLOUD technology has exacerbated the challenges CITPs and IT auditors face when they are conducting financial statement auditing and HIPAA, PCI-DSS, Gramm-Leach-Bliley Act (GLBA) compliance auditing in today's CLOUD-based IT environment.
Auditors that are engaged to conduct SOX, SOC 1, SOC 2, SOC 3 auditing are also challenged because today most companies and government agencies' payroll systems, e-commerce systems, online banking systems, HR systems, employee benefits systems are CLOUD-based rendering the conventional IT auditing strategy and techniques inadequate due to the robust and agile nature of the CLOUD business model.
Become a CITP and expand your practice to accept various types of IT auditing engagements.
Auditors that are engaged to conduct SOX, SOC 1, SOC 2, SOC 3 auditing are also challenged because today most companies and government agencies' payroll systems, e-commerce systems, online banking systems, HR systems, employee benefits systems are CLOUD-based rendering the conventional IT auditing strategy and techniques inadequate due to the robust and agile nature of the CLOUD business model.
Become a CITP and expand your practice to accept various types of IT auditing engagements.
August 27-31, 2018
Washington D.C. and Atlanta, GA
Washington D.C. and Atlanta, GA
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At the completion of the course, participants will:
- Be able to determine the types of risk assessment involved in a business entity and how they apply to IT and its relationship to financial reporting in particular, in identifying IT-related risks and the effectiveness of any controls to mitigate those risks, from a materiality constraint.
- Understand the business environment and business processes, especially the risk IT itself brings to accounting information systems and financial reporting, and how to apply this knowledge. In public accounting, this application would involve IT-related engagements, especially the financial audit. In business and industry (B&I), it would involve managing those systems and processes effectively, as well as understanding the purposes, processes, and evidence the CPAs/CITPs will be using in their engagements.
- Understand and apply the audit risk model as defined in the risk-based standards: Inherent Risk (IR), Control Risk (CR), and the Risk of Material Misstatement (RMM). Relevant standards include Statement on Auditing Standards (SAS) No. 99, SAS No. 104–111 (RBA standards), Auditing Standard (AS). Relevant models for risk include COSO, COBIT, and the P-D-C model.
- Enhance his/her understanding and evaluation of controls via walkthroughs.
- Be able to determine the most effective process of drafting a risk assessment report.
- Understand the basics of fraud and forensics; e.g., fraud triangle, fraud tree (schemes and categories of schemes), scope of fraud (i.e., professional skepticism), and profile of fraudsters.
- Understand applicable regulations and technical literature; especially SAS No. 99 (AU316) and how to apply them.
- Be able to determine risks of material misstatement due to fraud and determine specific techniques to detect fraud.
- Understand how to use IT in fraud investigations.
- Be able to choose and employ the most appropriate digital acquisition tools and procedures in a fraud investigation.
- Be able to identify applicable sources of digital evidence in a fraud investigation.
- Understand the basics of legal rules and procedures regarding digital evidence.
- Understand the importance of state and federal laws regarding digital evidence.
- Understand the internal controls frameworks and how to integrate them with financial reporting.
- Understand management considerations of internal controls.
- Be able to identify issues when preparing an IT audit plan associated with internal controls.
- Understand the five basic areas of ITGC and how to assess the effectiveness of those controls: the control environment, change management, logical and physical access security, backup and recovery, and service providers.
- Understand how to assess the effectiveness of applicable controls related to information security: policies and procedures, hardware and physical controls, software and process controls, authorization and authentication, and encryption.
- Understand the financial statement audit, especially IT related audit implications.
- Understand attest services for service organizations, both conducting the attest engagement and using the resulting report.
- Be able to apply techniques and procedures in IT assurance service engagements and internal IT reviews, including tests of controls, gathering evidence, the use of CAATs, and the use of sampling.
- Understand how to assess IT-related controls, how to identify and report on deficiencies and adverse impacts of deficiencies in controls.
- Understand information assurance for accuracy, integrity, security, presentation, timeliness and auditability.
- Understand information management and how it can provide value to the entity by the appropriate management of information.
- Understand and identify opportunities associated with the value of using IT to create or modify work flows and business processes that have the potential to make more effective use of resources.
- Understand the process of gathering, modeling, and transforming data with the goal of identifying the more useful information, suggesting conclusions, and supporting effective decision making.
- Understand how to apply data analysis and reporting concepts in such a way as to efficiently and effectively analyze enterprise performance, and to help the entity to achieve its accountability goals and objectives, using both financial and non-financial information.