Integrated Audit Approach

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An Integrated Audit Approach----A Key to Value Addition (By: Shakeel Ur Rehman, Manager SAP Audit PTCL) The 21st century has presented an unprecedented growth and opportunities for all professions including internal audit. Owing to advancement in technology the role of Internal Auditors has also been increased, because Governance, risk, controls, and compliance processes within organizations have undergone significant change to manage the increasing complexity and sophistication of global business operations. All of these developments open a window of opportunity for Internal Audit function to align their profession with global needs and add greater value in their perspective organizations. In order to add value in organizational operations an integrated audit approach is being used and encouraged. This approach prudently combines both IT and traditional (Financial, Operational, Compliance) audit skills. Integrated audit not only enhances the capabilities of audit team’s functional and technical competencies but also increases the efficiency and effectiveness of Internal Audit function. A glance on the history reveals that when spreadsheet was first introduced into business environment auditor transformed their role accordingly. In today’s world the concept of integrated auditor portrays a further evolution of same paradigm shift. Currently, in most organizations Internal controls are being separately reviewed by IS and financial auditor under the umbrella of two separate management teams. Similarly separate audit program, time schedule and report is produced which can lead to redundancy and inconclusive audit findings. Where it is Required: Integrated audit is required in all technology based organizations especially in telecom sector where complex systems are involved for billing, revenue and operations and the volume of data to be audited

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