Lesson: IT Controls in an Audit

This lesson delves into the topic of IT controls in an audit, including common controls such as access controls, change management controls, data backup and recovery controls, and security controls. The discussion also focuses on an auditor's responsibilities when considering IT and internal controls, as well as the AICPA's guidance on using IT during audits. Furthermore, the lesson explores the concept of data analytics and its use in identifying risk areas, testing controls, and performing substantive tests in an audit. The final part of the lesson emphasizes the importance of data reliability, the acquisition of data, and factors that can reduce data reliability during the auditing process.