SAP Audit - ITGC, OTC, RTR, PTP

What is Audit?

An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion.

SAP Audit is to audit of SAP Application both ITGC (IT general controls) and Application Controls.

Information Technology General Controls (ITGC) are the basic controls that can be applied to IT systems such as applications, operating systems, databases, and supporting IT infrastructure. The objective of ITGCs is to ensure the integrity of the data and processes the systems support.

Different types of Auditors?

• Internal Auditors - Internal auditors are employed by the organizations they audit. These auditors can review the performance of employees, compliance with company standards and financial and accounting systems. Internal auditors allow company leaders to be informed of what is happening within the company and to deal with problems or concerns in advance. The internal auditor then writes a report highlighting the issues and recommending remedies. Hence these are employees of the company’s management and are thus not considered independent auditors.

• External Auditors - The role of an external auditor is to determine whether the books of accounts have been adequately managed. Whether the annual financial statements provide an accurate and realistic picture of the entity’s financial situation. An external auditor’s report is crucial because it includes the auditor’s assessment of the company’s integrity. Both stakeholders, including the general public, are given access to the annual financial statements and the auditor’s report. An external auditor’s opinion is unbiased and pure. Specifically for the purpose of determining whether or not a corporation is being truthful to its shareholders

  
  

Audit Objective Categories?

• Strategic

• Operational

• Reporting

• Compliance

Audit Principles?

• Independence

• Objectivity

• Professional Skepticism

• Evidence

Standards can be referred for ITGC?

• COBIT(Control Objectives for Information and Related Technology)

• GAIT

• ITIL(Information Technology Infrastructure Library)

• CMM(Capability Maturity Model)

• ISO 27000