Every successful Information Security Program is built on 3 key elements. It requires decision-making risk management processes, clearly documented Information Security Policies, and an effective IT Audit Program. These elements work in conjunction with each other, feeding the next component information that continually improves the Information Security Program. The IT Risk Assessment process identifies key systems and information, threats against those systems, and helps management identify which controls are necessary to mitigate risk to an acceptable level. The controls have been selected in the risk assessment and are captured and solidified in the Information Security Policies. These controls are then implemented by the institution to mitigate the actual risks. The IT Audit process comes in to validate that the identified controls are successfully implemented in the institutions daily operations and to also ensure they are adequate to address best practice and regulatory guidelines.
A well-developed IT Audit Program will govern this process and provide the Board of Directors with assurances that the Information Security Program is implemented and working. This session will examine in more detail how the IT Audit Program integrates with the Information Security Program and will discuss the following items:
- Risk-based Audit Models
- FFIEC IT Audit Requirements
- FDIC InTREx Expectations
- Internal/External Audit Processes
- 6 Basic Audit Steps
- Engagement Letters
- Audit Workpapers
- Reporting and Exception Tracking
Target Audience:Â Information security officer, IT manager, risk officer, internal auditor, CIO