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A WORD ABOUT STUDY MATERIAL
In today’s business world, accounting professionals have to interact with computer-based Information systems on a regular basis. As primary users of information systems in organizations, accountants must participate in their design and understand their operation. Accounting managers must measure and evaluate the performance of information systems. Internal and external auditors must assess the quality of information systems and evaluate the accuracy of information input and output. The major share of the work of accounting consultants is in the design, implementation, evaluation and control of information systems.
The new system of Chartered Accountancy course recognizing the importance of Information Technology has included it as part of the course curriculum both at IPCC and Final levels. A paper on Information Systems Control and Audit forming a part of the final syllabus helps the students to understand how to evaluate controls and standards for information systems in an organizational environment. The basic knowledge about Information Technology gained at IPCC level is sought to be built up further through this paper.
The course Study Material covers the theoretical framework in detail. In addition to this, students can also refer the recommended reading books available on this paper. Students are also advised to update themselves with the latest changes in the IT sector. For this, they may refer to academic updates in the monthly journal ‘The Chartered Accountant’ and the Students ‘Journal’ published by the Institute and also other IT Journals/Magazines of repute e. g. ISACA’s Journal. Chapter-wise coverage of this Study material is as follows:
Chapter 1 of the study material is devoted to the discussion on basic concepts of system and various types of information systems.
Chapter 2 deals with systems development process for an information system. Various stages of systems development life cycle are also discussed. In this chapter, students will also get an idea how computerized business applications are conceived and designed. Various tools and techniques of systems analysis and design and programming are also briefly covered in this Chapter.
Chapter 3 discusses the objectives and functions of various controls for information systems. Understanding of these controls is essential to the Chartered Accountant’s ability to audit ‘through’ the company’s information systems.
Chapter 4 discusses various levels of testing for automated controls. This chapter has been revised with audit perspective.
Chapter 5 is devoted to the topic of Risk assessment methodologies and their application in information systems.
Chapter 6 outlines Business continuity planning and disaster recovery planning in case such a situation arises in any organization.
Chapter 7 extensively deals with ERP system.
Chapter 8 outlines the framework for Information Systems auditing standards, guidelines and best practices such as BS 7799, COBIT and HIPPA. Current version of COBIT is added in this revised edition.
Chapter 9 discusses various aspects related with information system security policy, audit policy and audit reporting from practical perspective.
Chapter 10 is devoted to the discussion on Information Technology (Amendment) Act, 2008.
In case you need any further clarification/guidance, please send your queries at e-sahaayataa portal at ICAI website (www.icai.org) or bosnoida@icai.org.
Happy Reading and Best Wishes!
The Aim To Write This here is that almost 90% of the students don't read this before exam and we Know whatz the result.
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