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Life as a CPA

Life as a CPA (11): Finally in Maryland, for IT Audit School

– Ty’s Summer Internship – Day 19 –

After 2 days we have to say good-bye to the Government and Not-for-Profit Conference and the beautiful Washington DC, and now we are off to Towson, Maryland! Why Towson? It is because Donny is teaching at the AICPA’s IT Audit School and it’s held in Towson. Why is it held in Towson? I don’t know. I was warned that it is not as exciting as the cities that we have visited so far, so no expectation for me.

After a 45 minutes drive from D.C., here we go, my first encounter with Maryland! Well, it actually looks like a cute little city. The IT Audit School is a three day program, but since Donny is only teaching the first day of the school, I get to only stay here for one night. What a bummer! IT audit is something I am highly interested in because this is the area where Accounting and IT really marry, so I hoped to embrace this opportunity to sneak into the full IT audit school, but I have to do it next time I guess.

The AICPA’s IT Audit School is for CPAs who have had no or minimum exposure to IT audit. Also, it is targeted for the controllers, internal audit managers, staff involved in documenting the IT function for financial reporting audit. People who pursue in the CITP credential will definitely like to participate in this course. This time the attendees are mostly CPAs from the East Coast, but some traveled quite a long distance such as from Alaska (and Donny from Hawaii). Also, we see some folks from IT function, operation, and even a lawyer. Interesting, isn’t it?

This school goes through how to assess the risk of material misstatement, designing IT audit procedures, and data mining and analysis for IT related audit, to name a few of the things on the agenda. It also covers standards changes related to Service Operation Control reports. I was surprised that I was somehow familiar with IT audit procedures such as tests for deployment and for applications/system based risks. It was quite encouraging to know that the system implementation projects that I used to be involved in were actually following quite good standards.

One thing that noticed in the class was that the participants were very quiet and holding back especially when it gets to the group work. Coming from the environment in which I am usually surrounded by those eager-to-learn MBA students, it was even funny to see these professionals being quiet. I think MBAs win for the proactive (almost aggressive) participation!

For this part of the trip, I do not have a video of Donny’s teaching, but I put a slide show together, so hopefully you enjoy…

The first day of IT Audit School is done, which means Donny’s mission in Towson is completed! What a short trip! Tomorrow we have to catch a flight to Las Vegas. Yes, Sin City again.

– To be continued –

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