Audit & Assurance
RBI – Master Direction on Digital Payment Security Controls
RBI has issued a Master Direction to provide necessary guidelines for the regulated entities to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services. Refer : Master Direction on Digital Payment Security Controls
Auditing Robotic Process Automation (RPA)
Robotic process automation (RPA) is automation of a process by using software with artificial intelligence (AI) and machine learning capabilities to handle high-volume, repeatable tasks needed people to do. A number of years back this had started with OCR based data entry into EPR’s especially around accounts payable. Recently with the advent of AI and ML, RPA has learning capabilities
Audit Technology without IT Audit staff
Then came the wave of specialised IT audits who could open the black box and identify numerous new risks associated with the complex workings inside the servers, computers and applications used. The financial/operational auditor could never really understand these risks and full reliance was placed the IT auditor.
