P3 overview - internal controls - part 2

In this lesson

1. 0:00 Introduction to information systems types
2. 0:55 Enterprise resource planning systems explained
3. 2:00 Decision support and executive information systems
4. 2:40 Expert systems and business applications
5. 3:05 Controls framework and system development
6. 4:17 General controls and application controls
7. 4:36 Internal audit department role and reporting
8. 5:48 Risk-based auditing and risk categories
9. 7:26 Controls-based versus substantive testing approaches
10. 8:35 Types of internal audit assignments
11. 10:28 Assessing internal audit quality with PAIR

About this lesson

You'll explore the types of systems—from transaction processing to enterprise resource planning—that underpin modern business operations, then discover how development controls, general controls, and application controls work together to keep these systems secure and reliable. You'll also understand the role of internal audit in the control framework, including how to assess audit quality and the different types of assignments internal auditors undertake, from systems audits to fraud investigations and value-for-money reviews. This session builds your understanding of P3 Risk Management by connecting information systems to organisational risk. You'll see why controls matter when systems fail, and how internal audit acts as a safeguard—reporting independently to the audit committee to ensure the control environment is working as intended. The concepts here are directly relevant to case study scenarios where you'll need to identify system weaknesses and recommend improvements to governance and control structures.

Duration: 12m