Types of Audits

CISA Official Review Manual, 28th Edition defined the audit as "formal inspection and verification to check weather standards or guidelines are being followed, records are accurate, or efficiency and effectiveness targets are met."

there are many examples of audits such as:

• There are numerous examples of auditing, such as:

  Information Systems Audit: Aims to collect and evaluate evidence to determine whether:

  • Information systems and related resources are adequately protected.

  • The integrity and availability of data and systems are maintained.

  • Relevant and reliable information is provided.

  • Organizational objectives are effectively achieved.

  • Resources are utilized efficiently.

  • Internal controls are in place to provide reasonable assurance that business, operational, and regulatory goals are met, and that undesirable events will be prevented, detected, and corrected in a timely manner.

  Compliance Audit: Tests controls to verify adherence to specific regulations, standards, or industry practices.

  Financial Audit: Assesses the accuracy of financial reports.

  Operational Audit: Evaluates the internal control structure within a specific process or area. Examples include information systems audits for application controls or logical security systems.

  Integrated Audit: Typically combines steps from financial and operational audits and may or may not include the use of an information systems auditor.

  Administrative Audit: Aims to assess issues related to operational productivity efficiency within the organization.

  Specialized Audits:

  • Third-Party Service Audit: Evaluates financial and business processes outsourced to third-party service providers who may operate in different jurisdictions.

  • Fraud Audit: Detects fraudulent activities.

  • Forensic Audit: Identifies, uncovers, and pursues fraud and crime.

Computer Forensic Audit: Involves analyzing electronic devices for the purpose of collecting and preserving evidence.

Functional Audit: Provides an independent evaluation of software products to verify that the actual performance of configuration items aligns with requirement specifications.

Readiness Assessment: A review of the organization's current compliance status or adherence to documented standards..

• Note: all the information mentioned above are gathered from CISA Official Review Manual, 28th Edition