IT Audit & Control Assessment

IT General Control and Application Control Audit

What is IT General Control and Application Control Audit?

An ITGC and ITAC audit involves the assessment of both general and application-level technology controls within an organization.

• IT General Controls (ITGC) audits focus on the foundational controls that support the overall IT environment—such as user access management, system change control, and IT operations. These controls are critical to ensuring the stability, security, and integrity of systems that support key business processes.

• IT Application Controls (ITAC) audits evaluate specific controls within business applications that ensure transactions are processed accurately, completely, and in accordance with defined rules. These include validations at data input, processing, and output stages.

Why It Matters?

• Supporting reliable financial and operational reporting

• Reducing the risk of data errors, unauthorized access, or system misuse

• Meeting regulatory and audit expectations

• Strengthening internal governance over technology systems

How to Start?

• Identifying critical systems and applications that support financial, operational, or compliance processes

• Mapping existing IT controls across access, change, operations, and application-level processing

• Performing control walkthroughs and testing to evaluate effectiveness

• Documenting gaps and remediation actions, with clear roles and timelines

• Engaging independent auditors or consultants to provide objective assessment and recommendations

Regulatory Compliance Audit

What is IT General Control and Application Control Audit?

A formal review of IT-related controls and practices to determine whether the organization complies with applicable legal and regulatory requirements. This includes evaluating internal policies, evidence, and processes to ensure that technology operations align with expected obligations. This includes sector-specific standards such as those from the Bank of Thailand (BOT), Securities and Exchange Commission (SEC), and Office of Insurance Commission (OIC)

Why It Matters?

• Demonstrates accountability and transparency in compliance management

• Reduces exposure to regulatory penalties and reputational risks

• Reinforces confidence among stakeholders, auditors, and regulators

• Enables proactive identification of non-compliance before formal inspections

How to Start?

• Identify relevant regulatory requirements based on industry and operations

• Assess existing policies, processes, and evidence against expectations

• Perform testing of control implementation and effectiveness

• Prioritize remediation actions and prepare for audit readiness

Third-Party Risk & Control Review

What is IT General Control and Application Control Audit?

A structured review of external service providers to evaluate how they manage technology-related risks and controls. The assessment considers areas such as data protection, service continuity, contract adherence, and the ability to operate within defined risk tolerances.

Why It Matters?

• Strengthens oversight over critical third-party dependencies

• Helps prevent business disruption, data exposure, and compliance failures

• Ensures that external providers operate within agreed security and control expectations

• Enhances risk visibility across the extended enterprise

How to Start?

• Identify high-risk third parties based on service criticality and data sensitivity

• Establish assessment criteria based on control expectations

• Review provider documentation, assurance reports, and control evidence

• Develop action plans and continuous monitoring practices