Write short notes on the following: Significance of System Audit

Significance of System Audit For any business (for profit or for non-profit) to survive, it must have an adequate information security system in place. IT audit is important because it gives assurance that the IT systems are adequately protected, provide reliable information to users and properly managed to achieve their intended benefits. Many users rely on IT without knowing how the computers work. A computer error could be repeated indefinitely, causing more extensive damage than a human mistake. IT audit could also help to reduce risks of data tampering, data loss or leakage, service disruption, and poor management of IT systems. Few of important reasons for which system audit is gaining significance are: Ensuring the security of information Standardization. Improvement in business efficiency. Improved system and process controls. Plan for contingencies and disaster recovery. Evaluating the effectiveness and efficiency related to the use of resources. Reduced risk and enhanced system security Prevention and detection of errors and fraud Building Confidence and Public Reputation