Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of systems audit

Definition of

systems audit

General Management

auditing approach an approach to auditing that utilizes a systems approach. By using a systems audit to assess the internal control system of an organization, it is possible to assess the quality of the accounting system and the level of testing required from the financial statements. One shortcoming of systems audit is that it does not consider audit risk.

Recommended Further Reading (Term count)
  • Incorporating Operational and Performance Auditing into Compliance and Financial Auditing
    by Andrew Cox
    “The truth is, “audit gets no respect.” Quite frankly, if the audit department in question is using yesterday’s approach in today’s company, has not manoeuvred top management and the board into focusing on the company’s top five or ten risks, has not caused management to quantify these risks, and has not succeeded in developing authorized bounds of risk tolerance, then it doesn’t deserve any respect.” Larry Small, President, Fannie Mae,...
  • Internal Auditors and Enterprise Risk Management
    by Ian Fraser
    Traditionally, internal auditors have been “policemen,” and their efforts have been concentrated on the more detailed, and arguably less appealing, aspects of financial auditing within organizations. Often, therefore, internal auditors have been regarded in the past as the poor relations of their external auditor cousins. This no longer applies, however, as the purpose of many internal audit functions has evolved over time.From a concern with...
  • What Is the Range of the Internal Auditor’s Work?
    by Andrew Cox
    Internal auditing is an evolving profession. It has been around for a very long time, probably since the pharaohs in Egypt. But it wasn’t until 1947—when the foremost professional body for internal auditing, the Institute of Internal Auditors (IIA), was formed—that internal auditing was set on its path to emerging as a profession.Subsequently, professional standards and a code of ethics for internal auditing have been established, and in 1974...
systems audit - Related Articles

More

Definitions of ’systems audit’ and meaning of ’systems audit’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’systems audit’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top