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Auditing is not as importnat as it might seem to be. It is only important and useful for stakeholders (i.e. shareholders, bankers, investors etc) that have an interest in public corporations. Stakeholders require an assurance on management behavioursand assertions that they make in financial reports. This is the primary function of external auditors; that's is to provide a credibility to the financial information that stakeholders need to make sound business decisions. stakeholders do not need any type of information, they specifically need an error free reliable information. On the other hand, auditing for small businesses and private corporations may not be required at all because they don't post their shares on public stock exchanges!!!!

Answer:

Most common issues that arise from multiple identities are those that can cause an organization from failing to fall under the numerous regulatory acts. Financial organizations come to the forefront in this scenario. These issues can be successfully overcome by conducting identity auditing that keeps under its vigil segregation of duties and prohibiting erroneous aggregation of privileges.

Identity auditing involves access review that tracks approvals and also provides tighter controls over access to private employee data. Such controls help maintain integrity of financial and HR data. This proves that identity auditing capabilities are central to helping companies achieve regulatory compliance within a reasonable cost.

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13y ago

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