IT Audit and Controls

IT Audit and Controls

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
Overview of the addressed problem.......................................................................................1
Common security issues that an auditor needs to investigate................................................1
NAB’s response to the data breach........................................................................................2
Information security measures NAB should adopt................................................................3
Role of cloud computing in information security...................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
IT audit and controls are necessary and crucial for an organisation as it determine
whether IT controls and measures are sufficient to protect corporate asset together with
maintaining data integrity in order to properly align with overall goals and objectives of Business
(Aobdia, 2019). This report is based on National Australia Bank (NAB) which is among one of
the largest financial institution of Australia on the basis of market capitalisation, number of
customers and earnings having its headquarter in Melbourne. This report consist a description
about problem of data breach, common security issues that an auditor needs to investigate
together with information security measures and role of cloud computing in information security.
Main Body
Safety and protection of personal and crucial information of customers is the first priority of
any organisations as leakage of this information can lead to serious issues and implications for a
business. This report is based on NAB which is considered as fourth largest back of Australia
and providing diversified banking and financial services to its customers.
Overview of the addressed problem
The problem and issues encountered by National Australia Bank is associated with data
breach of customers. The problem addressed in this report includes significant level of data
breach in NAB where names, contact details together with dates of birth and government issues
identification numbers like drivers license of about 13000 customers were accidently shared with
two data service companies (NAB reveals 13,000-person data breach at 6PM Friday, 2020). It
has been claimed by these third party data service providers that they have deleted the
information accidently sent and provided by NAB within two hours and there is no evidence of
further copied or discloser of this crucial information (Jumbad & Chel, 2018). Further, the chief
data officer has accomplished that it was not a cyber security issues while the problem
encountered with the issue of human error and mainly associated with the breach of data security
policies of NAB.
Common security issues that an auditor needs to investigate
The responsibility of an IT auditor is not only limited to examination and verification of
physical security controls but also includes the overall financial and business controls of an
organisation that also involves monitoring and control over information technology system. The
1