Risk Assessment: The Critical First Step to an Effective IT Audit Plan
In today’s economic and regulatory environment, boards, audit committees, and executives must understand the logic, value proposition, and cost behind their companies’ IT audit plans. An IT risk assessment is a crucial first step to creating a methodical risk management process that quantifies the likelihood of technology-, process-, and people-related threats that could hinder the organization from attaining its objectives in an efficient, effective, and controlled manner.