Auditing Cloud-Based Financial Systems: Best Practices

Course Objectives:

• Understand the unique risks and challenges associated with cloud-based financial systems.
• Identify key compliance and regulatory requirements for cloud-based financial audits.
• Apply best practices for planning and executing audits in cloud environments.
• Utilize tools and techniques to evaluate cloud security, data integrity, and financial accuracy.
• Recommend improvements to enhance compliance and reduce risks in cloud-based financial systems.

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Course Content:

Introduction to Cloud-Based Financial Systems and Auditing Basics

• Overview of cloud-based financial systems: types, benefits, and challenges
• Key differences between traditional and cloud-based financial audits
• Understanding cloud service models (IaaS, PaaS, SaaS) and deployment types
• Risk landscape: security, compliance, and operational risks
• Setting the scope and objectives for auditing cloud-based systems

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Compliance and Regulatory Frameworks

• Overview of key standards: SOC 2, ISO 27001, PCI DSS, and GDPR
• Financial compliance requirements for cloud environments (SOX, IFRS, etc.)
• Auditing for compliance: strategies and common pitfalls
• Working with third-party service providers and understanding SLAs

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Audit Planning and Execution

• Developing an audit plan for cloud-based financial systems
• Tools and techniques for auditing cloud environments
• Assessing data integrity, security controls, and financial accuracy
• Evaluating access management, encryption, and disaster recovery systems
• Case studies: common audit findings and lessons learned

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Reporting and Best Practices

• Preparing audit reports for stakeholders
• Recommendations for risk mitigation and compliance improvement
• Establishing continuous monitoring practices
• Best practices for collaboration with IT, finance, and third-party providers
• Future trends in auditing cloud-based financial systems

DATE:
1ST BATCH: 11th – 14th Feb, 2025
2ND BATCH: 15th – 18th July, 2025