Which factors should have priority when planning the scope of an IS audit?

When planning the scope of an Information Systems (IS) audit, prioritizing applicable statutory requirements is essential because these legal obligations establish the minimum regulatory and compliance framework that organizations must adhere to. Statutory requirements are often enforced by government bodies and can carry significant legal implications if not met. These laws can pertain to data protection, privacy, financial disclosures, and various industry-specific regulations, making them critical to the audit process.

Focusing on statutory requirements ensures that the audit addresses compliance with these laws, thereby mitigating legal risks and safeguarding the organization from penalties or reputational damage. In essence, without adhering to these legal mandates, an organization may expose itself to considerable liabilities, rendering any audit ineffective and potentially harmful.

While corporate standards, industry good practices, and organizational policies and procedures are also important factors to consider in the overall scope of an audit, they typically operate within the structure established by statutory requirements. Thus, while they contribute to the robustness of audit planning, statutory requirements must take precedence to ensure that compliance and legal responsibilities are adequately addressed.