The Importance of IT Auditing in the Modern World of Business

Some organizations have a full-time IA team and still require EA's warranty service. By having two audit functions, it is possible to reduce the audit fee, to increase the number of enforcement agencies to identify and prevent internal fraud, to prevent occupational collaboration between overlapping audit functions, Possibility of synergistic effect (Schneider, 2009). This part of the course extends the various functions of IA and EA and explains the changes brought by SOX law.

Auditing is a common process in accounting professionals. The Australian Tax Office (ATO) regularly checks whether companies are publishing the correct tax amount. Listed companies (such as Xero) need to be audited on a regular basis to ensure that the financial statements are accurate. Any allegations of commercial fraud or misbehavior could lead to audits. In many cases, the audit is done randomly to ensure legal compliance, accounting and compliance.

With the development of modern enterprises, auditing guarantees the credibility of financial reporting and plays an increasingly important role in helping reporting users make the right decision. Therefore, when conducting audits based on a public limited company, it is important that the auditor is independent in terms of physical and mental integrity. To clarify this topic, this paper is divided into the following parts: First, it is divided into four categories, literature review on the independence of audit, secondly, independence of audit in the mind and body Both importance to introduce the definitions of sex and detail them separately; Finally, to maintain the independence of audits from multiple perspectives such as shareholders, creditors, governments, operators, other stakeholders Analyze the importance.

Audit refers to the review of the company's financial report by an independent entity. Separation of ownership and management of companies in modern society creates demand for accountability and as the stakeholder needs change, the role of audit also changes. The audit itself responds to the relationship of accountability and providing true fair organizational financial reporting is independent of the rest of the company. Audit theory provides the framework of audit, establishes the principles of the audit process and the relationship between the parties and forms the basis of the role of the audit. Mautz and Sharaf said, "This concept provides the basis for progress in the field of knowledge by promoting communication on knowledge and issues."