IT Internal Audit
Many organizations are currently facing ongoing challenges to improve the effectiveness of their Internal Audit (IA) functions. With unprecedented regulatory pressures and market expectations, today’s rapidly changing business climate has made it difficult for organizations to find the specialized skills needed for a high-performing and cost-effective internal audit function. Our experience shows that traditional IA functions have historically focused on financial reporting related to internal controls, regulatory compliance and marginal improvements to business and IT processes. While these traditional IA focus areas are important, they often fail to address significant risks that account for the erasure of an organization’s market value.
At CNM, we believe Internal Audit must provide the organization with cross-functional subject matter professionals who understand the organization’s strategic objectives, culture, processes, and procedures, as well as the IT infrastructure and environment. Aligning this knowledge with governance, risk, compliance, and controls expertise allows IA to become a trusted assurance and advisory function within the organization. Our team can help you identify IT areas that pose operational, compliance, or strategic risks and provide IT solutions that meet your objectives, as well as state and federal requirements.
Our IT Internal Audit team integrates closely with the Business Process Internal Audit team to identify appropriate technology and data risks while ensuring a high degree of coordination and efficiency. To learn more about the specific service offerings under our Internal Audit practice, please visit our Internal Audit Advisory page.
Our seasoned professionals bring both deep Internal Audit experience and IT technical knowledge, to assist clients in identifying significant IT exposures and make practical recommendations to mitigate those risks. Through active collaboration with your team, we enhance IA’s understanding of IT risk and increase your effectiveness in communicating the business implications of IT risk to key stakeholders, including the Audit Committee, Board, and executive management.
The CNM Approach: Maximizing the Value of Internal Audit
- Threat focused on both current and emerging risks
- Tailored to your industry, regulatory environment and the risks presented by your specific company’s IT infrastructure
- Translation of technical disciplines into non-technical real business language
- Knowledge transfer to your team
- 100% experienced practitioners – no entry-level auditors
- Leverage tools and accelerators
The complexity of today’s IT environment makes it very difficult to fully identify, aggregate and evaluate IT risks. CNM assists Internal Audit in navigating this complexity, to facilitate you making appropriate recommendations to Management for effective IT risk mitigation. We provide both IT IA consultative and IT IA audits in the following areas:
We partner with Internal Audit to assess the company’s IT risk management processes and mitigation responses.
- IT Governance & Risk Assessment
- IT IA Strategy & Planning
- Data Governance
- AI Governance
Foundational Infrastructure
We assist you in evaluating the IT building blocks of your company, how they interrelate, and risks presented by IT interdependencies.
- Information Security
- Cloud
- Cybersecurity
- Third Party Risk Management
- Digital/ERP Transformation
- Identity & Access Management
- Change Management
- Systems Development
- Asset Management & Configuration
- Business Continuity & Disaster Recovery Planning
- Internet of Things
We collaborate with you to assess compliance processes for efficiency and effectiveness, aligning with regulatory requirements and leading practices, while providing insights to leverage compliance as a competitive advantage.
- Privacy
- Regulatory
- Payments
- Crypto
- SOC Readiness
- User Access Review & Segregation of Duties
We assist Internal Audit in assessing the viability and health of critical projects, including IT initiatives and implementations, to maximize the value IA brings to your company’s accomplishment of its strategic objectives.
