INternal Audit FUnction

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Internal Audit Function

IT steering committees could benefit by inclusion of an organizational accounting presence and an internal audit function (IAF). IT project schedules are habitually overrun, which implies budgetary overruns. The business environment has evolved from accepting IT initiatives to including interactive compliance. Business units request complex business systems, data metrics, analytics, and advanced vendor control management solutions to ensure departmental goals are accomplished. Héroux & Fortin (2013) justify the need for an IT internal audit function’s involvement in IT governance as these budgets begin to grow in scale. Validation of resources using given frameworks helps IAF to support IT governance. The key is to include IAF representation in IT steering committees and in communications with senior executives. Héroux & Fortin (2013) validate a survey by conducting a quantitative, non-experimental correlation using a survey of 130 IT governance and IAF executives. In their findings, descriptive statistics were used to interpret data instances. IAF staff participation was executed periodically through performance of audits and highlighted IT risks that might be considered as future threats.

Inclusion of IAF staff in the IT steering committee would enhance development of best practices by illuminating IT overspending and resolution of financial management issues. The ability to coordinate budget increases that require new processes, paperwork, and approval with the IAF IT steering committee member present will encourage cohort sustainability. In addition to improving internal budgetary processes through outsourcing of non-core competency initiatives can prove cost-effective.

Outsourcing

Organiz...

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Tallon, P., Ramirez, R., & Short, J. (2013). The Information Artifact in IT Governance: Toward a Theory of Information Governance. Journal of Management Information Systems, 30(3), 141-178. doi:10.2753/MIS0742-1222300306

Tiwana, A., Konsynski, B., & Venkatraman, N. (2013). Special Issue: Information Technology and Organizational Governance: The IT Governance Cube. Journal of Management Information Systems, 30(3), 7-12. doi:10.2753/MIS0742-1222300301

Williams, C., & Karahanna, E. (2013). Causal Explanation in the Coordinating Process: A Critical Realest Case Study of Federated IT Governance Structures. MIS Quarterly, 37(3).

Xue, L., Zhang, C., Ling, H., & Zhao, X. (2013). Risk Mitigation in Supply Chain Digitization: System Modularity and Information Technology Governance. Journal of Management Information Systems, 30(1), 325-352. doi:10.2753/MIS0742-1222300110

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