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IT auditing has had a relatively short yet rich history when compared to auditing as a whole and remains an ever-changing field. The introduction of computer technology into accounting systems changed the way data was stored, retrieved and controlled. It is believed that the first use of a computerized accounting system was at General Electric ...
An IT audit is different from a financial statement audit.While a financial audit's purpose is to evaluate whether the financial statements present fairly, in all material respects, an entity's financial position, results of operations, and cash flows in conformity to standard accounting practices, the purposes of an IT audit is to evaluate the system's internal control design and effectiveness.
The system was tested in computing mortality statistics for the city of Baltimore. [3] In the first commercial electronic data processing Hollerith machines were used to compile the data accumulated in the 1890 U.S. Census of population. [4]
Audit technology is a general term used for computer-aided audit techniques (CAATs) used by accounting firms to enhance an engagement. These techniques improve the efficiency and effectiveness of audit findings by allowing auditors to analyze much larger sets of data, sometimes using entire populations of data, rather than taking a sample.
Data auditing can also refer to the audit of a system to determine its efficacy in performing its function. For instance, it can entail the evaluation of the information systems of the IT departments to determine whether they are effective in protecting the integrity of critical data. [ 2 ]
Computerized data processing, or electronic data processing represents a later development, with a computer used instead of several independent pieces of equipment. The Census Bureau first made limited use of electronic computers for the 1950 United States census , using a UNIVAC I system, [ 3 ] delivered in 1952.
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