Behind the clouds: Getting the hang of cloud computing
Develop your awareness of cloud computing and its risks, with Peter Mandich’s introduction to the faculty’s new report for internal auditors.
Cloud computing has become so prevalent that the vast majority of organisations are now using it in some form or other. This is not surprising as the cloud can yield significant benefits such as economies of scale, greater organisational flexibility and improved access to more scalable technology resources.
However, as organisations adopt cloud computing, they have to deal with significant risks. Positioning the internal audit function, through its independent role, as a key element of cloud implementation can help to address potential risks early. To support internal auditors, ICAEW’s Internal Audit Panel has produced guidance on how to deal with some of the key challenges that are likely to be faced.