Factors Associated with IA Audit of InfoSys v12 Sept 8-09-cleaned

Factors associated with IT audits by the internal audit function By Mohammad J. Abdolmohammadi mabdolmo@bentley.edu and Scott R. Boss sboss@bentley.edu Department of Accountancy Bentley University Waltham, MA, 02154-4705 September 2009 The Common Body of Knowledge in Internal Auditing (CBOK 2006) database was used for this study. One of the authors was a member of the research team that developed CBOK (2006) for the Institute of Internal Auditors Research Foundation (IIARF) in 2006-2007. We gratefully acknowledge IIARF’s financial support. We are also thankful to the numerous anonymous internal auditing professionals who participated in the study. Factors associated with IT audits by the internal audit function Abstract Responses from a large sample of 1,029 chief audit executives (CAEs) from Australia, Canada, New Zealand, the U.K./Ireland, and the U.S. are used to estimate the proportion of time spent by internal audit functions (IAF) on information technology (IT) audits. The sample is also used to investigate explanatory and control variables that are associated with the extent of IT audits by IAFs. The results show that the proportion of IAF time spent on IT audits was only 7.97 percent in 2003, 10.61 percent in 2006, and was projected to be 13.40 percent in 2009, indicating an approximately one percent increase per year. Multivariate regression indicates that four variables; ...