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What is an IT Audit?

Our IT auditing service fully examines, analyses and evaluates your IT controls, infrastructure and existing systems. Our Associates take an extensive look into your processes and policies to identify opportunities for growth, development and potential budget savings. Conducting a thorough IT audit is a vital part of enterprise risk assessment and regulatory compliance.

The IT audit process evaluates how well your system and set-up aligns with your overall business goals. Some of the goals of our IT audits include:

  • Analysing your company’s data security
  • Ensuring IT processes are fully compliant and efficient
  • Cutting costs and minimising unnecessary expense
  • Identify areas for streamlining or modernising

Does my business need an IT audit?

Regular IT audits are crucial to ensure your business is compliant, up-to-date, efficient and functioning to the best of its ability. They not only identify pain points and troubleshoot problems, but can highlight areas where you have room to grow and can make improvements or savings.

How often you need to carry out a full IT audit is dependent on the size of your business, the industry you operate in and a range of other factors. Book a consultation with one of our Associates to learn more about our services and decide the best course of action for your business.

Governance Review
We review how robust and secure your technology and processes are. Is your framework efficient and secure?
Strategic Review
Do you have the right IT Strategy in place to allow you to achieve your businesses goals and objectives? We'll tell you.
Technology Review
A full review of your businesses technology. Assessing the robustness, functionality and availability of your businesses technology.
Supplier Reviews
We've worked with thousands of IT suppliers and are highly experienced in the marketplace and current trends.
Talent Assessment
A review of your current IT Team function. Observing how well your team is resourced, highlighting any skill gaps and reviewing internal competence.

Bailey & Associates Included Services

Typical Time Frame: 2 – 14 days (depending on business size and objectives)

Work Conducted: Primarily onsite

Our IT audits are designed to provide you with the insights and recommendations required to improve your company’s IT strategy and meet your objectives.

After understanding your goals and requirements, one or more of our Associates will thoroughly and professionally audit your business’ IT strategy. Our audit will be focused on your technology, talent, strategy, and governance. We can also work with you to identify any other objectives or specific areas you would like to be evaluated.

The time required for the audit depends upon the size of the business, your requirements and any specific objectives. Upon completing the IT audit, our Associate(s) will present back their findings and recommendations in full. At this stage, it is then completely your choice on how you wish to take your IT strategy forward; choose an IT consultation for any specific projects, or consider outsourcing your IT Leadership to one of our Associates for a longer term solution.

Types of IT Audit

General Audit

A comprehensive review and report of your businesses IT environment and strategies.

  • We’ll consult with you to identify your business goals and objectives.
  • A thorough analysis of your existing IT architecture and current processes
  • Recommendations on data handling, hardware, technology and more will be made
  • Our General Audit is an overview of your entire governance and recommendations

Security Audit

A thorough review of your IT Security policies, implementation and cyber security readiness.

  • Gain a full understanding of how secure your business’ operations are
  • We’ll investigate data handling, cyber security, perimeter defence and more
  • Discover any gaps in your security and benefit from our experienced expert insight
  • Our Associate will provide bespoke recommendations tailored to your business

Compliance / Governance Audit

An examination of industry specific compliance requirements for your business.

  • Ensure your business is following industry standards and legal requirements
  • Your IT governance will be analysed top-to-bottom in line with regulations
  • Bolster your reputation, improve the work environment and prevent future penalties
  • We will identify any gaps or areas that should be improved, saving time and money

Team or Function Audit

A review of a specific team, project or function in your business from an IT perspective.

Example of areas covered in this audit:

  • Skills gap analysis process and recommendations.
  • Vendor, partner and other third parties review.
  • Stakeholder, senior management team and board interaction review.
  • Reporting and forecasting quality assessment.

Not sure which audit is best for you?

Deciding which type of audit your business requires is an important step in taking control of your IT governance. Having the correct tools, compliant procedures and secure processes is vital, whichever industry you operate in.

For those clients who aren’t sure which audit is required, or have questions about the audit process, checklists and procedures, we recommend our consultation service. One of our Associates will meet (either virtually or in person) you and key business stakeholders to offer a thorough overview of the services we at Bailey & Associates provide. We’ll also gain a complete and in-depth understanding of how you work and your business goals. Then, you can decide how to proceed with all the expertise of our portfolio on your side.

Of course, our services come on an on-demand basis. That means that you can completely tailor the work we do for you so it suits. For instance, you might decide following your consultation and audit that your business could benefit from an outsourced IT Leader as part of your team.

IT Audit Case Studies

INDUSTRYLogistics

Overview

This logistics provider is one of the world’s most recognisable brands and works on a global scale....

Objectives
  • Underpin double-digit CAGR growth
  • Deliver improved customer satisfaction
  • Reduce the business' cost to serve

INDUSTRYFinance

Overview

This multi-million convertible arbitrage hedge fund was formed in the early 2000s by a group of former...

Objectives
  • Build bespoke portfolio and risk management tools
  • Design automated back office processes
  • Increase efficiency

INDUSTRYInsurance

Overview

This initiative was delivered within the Annuities Division of a major global insurer. Although the overall company...

Objectives
  • Replace three existing mainframe systems with one integrated client-server solution
  • Clean up and migrate all existing data (over 200 million items)
  • Restructure the business processes and teams required