Information Technology General Controls have caught the attention of various organizations that use advanced IT products, software and services. ITGC are the regulations that control the IT systems used by organizations.
ITGC assures that the IT systems produce accurate and reliable results. ITGC audits get carried out as a part of financial statement audits intending to review the placed controls for IT systems having a direct effect on the financial statements.
This element brings relevance to the controls for changes and system development activities. Any changes made to a system follow the pre-established change management policy and procedures, including configuration and emergency changes. Changes get logged, tested and approved before integrating it into production.
This element groups controls on the relevance of how to access, both logically and physically, and is used to manage systems and data.
This element clusters the controls dealing with operational activities.
Most organizations are dependent on IT systems for their daily business operations. They face the challenge to monitor and control data security threats while operating effectively and productively. Most ITGC solutions include capabilities to whitelist and blacklist applications to allow decisions for the functioning of the same. With ITGC, every organization can potentially eliminate the risks posed by illegal, malicious or unwanted software and prevent unwanted network access. Take a look at the benefits ITGC can bring to your organization:
The main objective of ITGC is to provide visibility into users, applications and content. It helps us understand our organization's data, its location, user accesses, access points, and data transmission processes. These measures are necessary to discover data and classify risk management and regulatory compliance. ITGC provides support to these processes and organizations to stay well informed about their entire IT grid.
ITGC enables organizations with the knowledge of critical areas like web traffic, potential threats, applications, and data patterns. While the management decides actions for any of these areas, ITGC is instinctively protecting your IT network.
You find ITGC insufficiencies on individual assessments of mitigating controls and procedures. It is imperative to determine the differences in a domain as a group because similar differences increase the overall exposure to threats. A thorough evaluation with this approach helps you and your management identify possible failures across different levels that might result in counterfeits or financial statement inaccuracy. Contact us if you need a better understanding of ITGC or have any related queries. We will be happy to help you understand.