Review the external auditor's involvement in assessing IT controls.

UCF ID: 01204

Control Type: Process or Activity

Status: Live

Supporting and supported controls

This control directly supports:

Ensure outsourced audits are effectively managed. [UCF Control ID 01203]

There are no supporting controls.

Authority documents complied with:

FFIEC IT Examination Handbook – Audit, August 2003, Exam Tier I Obj 12.1; CobiT, Version 4.1, ME4.7; The Dutch corporate governance code, Principles of good corporate governance and best practice provisions, 9 December 2003, ¶ V.2.2

Banking and Finance Guidance

[Exam Tier I Obj 12.1, FFIEC IT Examination Handbook – Audit, August 2003]

General Guidance

The organization is called upon to ensure that the organization establishes and maintains a function that is competent and adequately staffed and/or seeks external assurance services to provide the board—this will occur most likely through an audit committee—with timely independent assurance about the compliance of IT with its policies, standards and procedures, as well as with generally accepted practices. [ME4.7, CobiT, Version 4.1]

Other European and African Guidance

The audit committee and Management Board must report all dealings with the external auditor to the Supervisory Board annually. [¶ V.2.2, The Dutch corporate governance code, Principles of good corporate governance and best practice provisions, 9 December 2003]

Metrics

The metrics associated with this control are as follows:

Report on the percentage of required internal and external audits that have been completed and reviewed. [UCF Control ID 01677]