Internal controls are the life boat for a firm. When properly done, internal con

Question

Internal controls are the life boat for a firm. When properly done, internal controls provide the necessary safety blanket around the firm's operations. Firms like Internal Auditing Association (www.theiia.org) and Information Systems Audit and Control Association (www.isaca.org) are excellent resources. Using the firm that you work for (or if you are not working, use a firm that you used to work for or a firm that you are familiar with), describe how firms like ISACA can help with internal controls. Be specific about the firm & the benefits from these association. To support your response, perform a search on the Internet to find an article that supports your recommendation (excluding the readings from this class). Be sure to include (a) the title of article; (b) a link to it; and (c) a two-sentence summary of the article.

Explanation / Answer

Internal controls act as a blanket for any organisation and firm. It helps streamline the processes, use the best of the controls and protects the company from external threats and the loss of valuable IT resources from any kind of vulnerability. the misuse and hacking of the sensitive information of the company can be safeguarded by adapting strong internal controls that reduces this risk.

there are many professional bodies that provide the necessary guidance and development of internal controls in IT. Firms like ISACA provide the companies that use extensive IT operations a strong and well guided control system and maintanence of IT systems. the issues related to security, risk management, internal auditing services, certified professional members services, IT governance procedures and various auditing and educative services in systems audit and control mechanisms.

This kind of services helps the firms in the way by providing good governing services and security of IT systems. This benefits the firm by helping being more strong in terms of security and maintanence of standards set by the auditing team and on line with the legal requirements and being more competitive in the market. The certifications in IT adds to the brand image of the company.

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