I Nternal Audit F Unction Essay

1890 words - 8 pages

Internal Audit Function
IT steering committees could benefit by inclusion of an organizational accounting presence and an internal audit function (IAF). IT project schedules are habitually overrun, which implies budgetary overruns. The business environment has evolved from accepting IT initiatives to including interactive compliance. Business units request complex business systems, data metrics, analytics, and advanced vendor control management solutions to ensure departmental goals are accomplished. Héroux & Fortin (2013) justify the need for an IT internal audit function’s involvement in IT governance as these budgets begin to grow in scale. Validation of resources using given frameworks helps IAF to support IT governance. The key is to include IAF representation in IT steering committees and in communications with senior executives. Héroux & Fortin (2013) validate a survey by conducting a quantitative, non-experimental correlation using a survey of 130 IT governance and IAF executives. In their findings, descriptive statistics were used to interpret data instances. IAF staff participation was executed periodically through performance of audits and highlighted IT risks that might be considered as future threats.
Inclusion of IAF staff in the IT steering committee would enhance development of best practices by illuminating IT overspending and resolution of financial management issues. The ability to coordinate budget increases that require new processes, paperwork, and approval with the IAF IT steering committee member present will encourage cohort sustainability. In addition to improving internal budgetary processes through outsourcing of non-core competency initiatives can prove cost-effective.
Organizations must learn to outsource processes. Key personnel skills must be competent and the loss of traditional services will seem indispensable to stakeholders who resolve to keep these activities in-house and within the confines of the original individual division. There opportunities to train staff on new: projects, generating new reports, completing internal training, accounting payroll services, human resourcing and physically replacing IT equipment. These functions are easily outsourced to create the opportunity for permanent staff to maintain focus on profit making activities. These processes are frequently being outsourced and have web-based solutions which enable employees to access information and receive the benefits and resources profited by outsourced services and contractors. Outsourcing helps by minimizing extra personnel and distractions which come from cyclic increases in these temporary needs by the organization. IT governance helps address these needs by having open and honest dialog in IT steering committees to address that certain personnel may not be able accept more responsibility, however, be successfully augmented to successfully accomplish the goals to attain the goals desired by the organization....

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