42% of respondents indicate that limitations of their organization's IT systems have a significant impact on their ability to manage risk exposure.
50% of organizations have invested more in IT systems upgrades in response to risk exposure
In today’s competitive business environment, IT systems are critical investments that are essential to running a successful organization. Whether pursuing complex technology transformation, improving operational efficiencies, leveraging data to make insightful decisions, or staying compliant with vast regulatory obligations, businesses are increasingly faced with navigating risks associated with their systems.
Key issues
- Security of business data in applications
- Weak controls
- Ensuring that IT enabled projects meets its objectives
- Auditing in the modern IT environment
- Use of technology to optimize processes and controls
- Use of IT for compliance
- Having the right IT foundations for the business
- Understanding risk across integrated technology platform
- Increased attention for security and privacy at Boards and Audit Committee levels
- Increased reliance on third parties to drive cost effectiveness
Security of business data in applications
Your organisation's financial and business data is vulnerable if too many people have access to system functionality, if monitoring is poor or if preventive controls are not in place.
Errors can creep into financial and business data and without the right detection and control mechanisms, they may not be found and corrected in time. A security and controls review can help make sure your financial and business data remains accurate, giving you the confidence to make the right decisions.
IT Governance Review
- Aid in aligning IT with organizational goals and strategy
- Help convert strategic goals into IT projects
- Aid in project portfolio management, performance measurement and in demand management (demand for IT services by other departments)
- Optimize IT operations and increase project visibility
Enterprise Resource Planning (ERP) Assurance
Give assurance on ERP systems and improve reliability and functionality at implementation, migration, upgrades and operation. ERP Assurance includes technical configuration review for different application platforms such as SAP, Oracle, JD Edwards, among others.
Development of IT Policies and Procedures Manual
- Provide clear framework, rules and guidelines for decision-making
- Provide consistent and clear response in performing control activities
- Retain institutional knowledge when employee leaves the company
IT Generals and Application Controls Review
- Improve basic internal controls over IT management practices
- Benchmark IT practices against global IT framework/standards (e.g COBIT, ITIL)
- Comfort over integrity and reliability of transactions processed through IT systems
Internal Controls Optimization (ICO)
- Help management assess, remediate and enhance internal control over reporting systems and business processes
- Review of internal control system and identification of areas for possible improvement
System Implementation Assurance
- Project risk assessment to identify key risks and areas for management focus
- Pre-implementation review of resources, project plans, timelines, central designs, and conversion techniques prior to implementation activities to provide comfort around the project prior to commencement
- Data migration review for independent testing or data integrity from old to new system
- Go-live assessment to determine if key implementation activities, including system security and compliance with laws and regulations have been completed prior to cutover of new system
- Post-implementation review to verify planned outcomes in the earlier stages of the project are in place and operating as intended
Security Assessments
Have your organization been required to comply with international standards or assess currently placed controls for overall improvement of policies and implementation.
Cloud Management Audit
We conduct gap assessments to ensure that information placed by an organization in the cloud is maintained with sufficient security controls, complies with contractual requirements, and implements appropriate vendor risk assessments that highlight controls.
Other services
Related Content
Contact us
Follow PwC Philippines
