IT Audit Services
Technology risks can stretch your internal audit team beyond its available time and expertise. LBMC helps you evaluate IT controls, address cybersecurity concerns and complete the technical work your audit plan requires.
Our IT audit services bring together internal and external audit experience with technical cybersecurity knowledge. Whether you need a focused review, additional testing capacity or ongoing support, we help you connect technology risks to business priorities and practical next steps.
Need Additional IT Audit Expertise
If your audit plan calls for technical knowledge or testing capacity your team cannot cover internally, LBMC can help you determine the right scope and support model.
When Your Audit Plan Needs Additional IT Expertise
New systems, cloud services and changing compliance demands can add work faster than your team can add resources. LBMC can support your organization when you need to:
- Assess technology and cybersecurity risks to inform annual audit planning.
- Complete IT controls testing or address a backlog of audit projects.
- Review cloud security, IT processes or third-party risks.
- Add technical expertise to your internal audit team.
- Prepare for SOX requirements or identify opportunities to automate recurring audit work.
IT Audit Services for Cybersecurity and Compliance
Build the technical coverage your audit plan requires. LBMC provides focused assessments, controls testing and specialized resources, with the work tailored to your systems, priorities and available staff.
IT Risk Assessments and Audit Planning
Build your audit plan around the technology risks that matter to your organization. LBMC helps execute and analyze IT and cybersecurity risk assessments, prioritize coverage and develop related audit plans. Targeted reviews can address assessment findings or requests from management and the audit committee. For broader enterprise risk and audit program needs, connect with our Internal Audit Services team.
Cybersecurity and IT Process Audits
Evaluate cybersecurity controls and the processes supporting your technology environment. LBMC performs stand-alone audits covering cybersecurity, IT general controls and security configurations. IT process audits can address vulnerability management, threat management and project implementation. We also document processes and internal controls, connecting findings to business risks and practical recommendations.
Cloud Security and Vendor Audits
Understand the risks associated with cloud environments and outside providers. LBMC evaluates cloud security configurations, access and oversight responsibilities, and performs vendor and third-party audits within an agreed scope. We help identify control gaps and areas requiring attention. For a focused review of your cloud environment, visit our Cloud Security Assessments page.
SOX Readiness and IT Compliance Testing
Support your compliance program with additional testing resources and technical expertise. LBMC assists public and private companies with SOX readiness, ongoing IT controls testing and integrated audits with financial teams. Our experience also includes testing support for SOC, HITRUST and other compliance needs. See our SOX Compliance Services for broader program support. Formal examinations and certification assessments require separately defined scopes and reporting.
IT Audit Staff Augmentation
Add the capacity and specialized knowledge your internal audit team needs. LBMC provides staff augmentation, co-sourced support and outsourced IT audit engagements based on your objectives. We can support a specific project, recurring testing or a broader IT audit plan, giving your organization access to audit and cybersecurity professionals across multiple disciplines.
Audit Automation and Data Analysis
Identify opportunities to make recurring audit work more efficient. LBMC’s security audit professionals collaborate with our data specialists on continuous monitoring, continuous auditing and robotic process automation where appropriate. We evaluate the audit objective, available data and existing processes to determine where automation can support testing and reporting. Connect with our Data and AI Services team for related capabilities.
When developing your audit plan, consider how internal auditors evaluate cybersecurity risk and where additional technology expertise may be needed.
CLIENT TESTIMONIAL
“We’ve partnered with LBMC for several years, which has allowed us to maintain the necessary IT audit expertise year after year. Rapid technological changes would have made it challenging to source and retain this expertise internally.”
Director of Sarbanes Oxley at a federally owned electric utility corporation
IT Audit Support in Practice
The Tennessee Valley Authority needed specialized support for IT general controls testing within its SOX program. LBMC’s published case study describes how co-sourcing provided access to IT audit expertise and testing resources while reducing the need to build a full internal team for that work.
What to Expect From an IT Audit Engagement
We begin by discussing your objectives, current audit coverage and business priorities. Together, we define scope, responsibilities, timing and the information needed to complete the work.
Depending on the engagement, the work may include a risk assessment, process walkthroughs, documentation reviews and control testing. Reporting should give your team a clear view of findings, their business implications and recommended actions. We agree on reporting and any follow-up activities as part of the engagement scope.
Industries We Serve
LBMC works with organizations across healthcare, manufacturing and distribution, not-for-profit and government, private equity, real estate and construction, technology and SaaS, and other sectors. We tailor IT audit coverage to the systems, information and operating needs within the agreed engagement scope.
Local Expertise, Wherever You Are
With offices in Chattanooga, Memphis, Louisville, Nashville, Knoxville, Philadelphia, and Charlotte, plus remote offices, LBMC partners with businesses across the region and beyond.
IT Security Compliance and Assurance Resources
- 5 Internal Controls That Prevent Fraud in Construction Companies
The Construction industry is known for having a history of fraud perpetration. Contractors can implement internal controls to mitigate. - 10 Church Finances Best Practices for Fraud Prevention
Church finances best practices create transparency, prevent fraud, and ensure faithful stewardship. Protect donations with 10 proven oversight steps. - Spotlight on Fraud in the Manufacturing Industry
Learn how to identify manufacturing fraud risks, detect common schemes, and implement controls to reduce exposure and protect your organization. - Inventory Fraud: What Manufacturers Should Know
When faced with financial pressure and given an opportunity to steal, an employee may rationalize the theft of inventory. Learn more about inventory fraud. - From Greed to Guard: The History of Financial Fraud
Exploring the journey of financial fraud through history and the pivotal role of audits in evolving to combat these schemes. - Cycle Counting Benefits and Implementation
Cycle counting overhauls and streamlines the inventory process while keeping operations running. Learn about the benefits and how to implement.
IT Audit Frequently Asked Questions
Can you work with our existing internal audit team?
Yes. LBMC can provide staff augmentation for additional capacity, co-sourced support for specialized IT coverage or an outsourced engagement for an agreed scope of work. Projects may address a single review or recurring testing needs. If your organization needs support for the overall internal audit function, our Internal Audit Services team can help determine the broader approach.
Do we need an IT audit or a SOC report?
The answer depends on who needs the results and what they need to understand. An IT internal audit supports your organization’s evaluation of technology risks and controls. A SOC examination addresses defined reporting objectives for intended report users. Our SOC Audit Services page explains those options. For other formal assessments, start with our IT Security Compliance and Assurance services.
How do we decide which technology risks to audit?
Start with the systems and information your business depends on, then consider prior findings, major changes and concerns raised by management or the audit committee. An IT risk assessment helps inform priorities and coverage. Read about risk assessments and formal process development and how internal auditors evaluate cybersecurity risk.
How should we prepare for an IT audit?
Identify system and process owners, gather prior findings and locate existing policies, system inventories and control evidence. Discuss critical vendors, recent technology changes and deadlines with the engagement team. Our IT Compliance Readiness Checklist can help organize preparation; the final scope and evidence requests will depend on your engagement.
Can IT audit support fraud risk management?
Technology controls, such as access restrictions and system permissions, can support broader controls over business processes. An IT audit may evaluate relevant controls within its scope, while operational and financial reviews address other fraud risks. For related business-control context, see internal controls to prevent fraud and theft and how businesses can help prevent wire fraud. An IT audit does not guarantee fraud detection or prevention.
How can data analysis and automation support audit work?
Data analysis can help teams identify exceptions and focus review, while automation may support recurring testing or reporting. The approach depends on the audit objective, data quality and available evidence. LBMC’s articles on improving audit quality with data analytics and implementing AI in financial audits provide related reading from a financial audit perspective. The procedures appropriate for your IT audit will depend on its scope.
How much does an IT audit cost and how long does it take?
Cost and timing depend on the systems and processes in scope, testing requirements, available documentation and the support you need. We discuss those factors with you before proposing an engagement.
LBMC IT Audit Leadership
Need Help Defining Your IT Audit Scope
Tell us where your team needs support, what your audit plan needs to cover and any deadlines you are working toward. We can help you determine the scope and resources that fit your organization.