Changing Methodologies in Financial Audit and Their Impact on Information Systems Audit

This paper tries to provide a better understanding of the relation between financial audit and information systems audit and to assess the influence the change in financial audit methodol-ogies had on IS audit. We concluded that the COSO Internal Control – Integrated Framework was the starting point for fundamental changes in both financial and IS audit and that the Sarbanes-Oxley Act should be viewed as an enabler rather than an enforcer in establishing strong governance models. Finally, our research suggests that there is a direct causality ef-fect between the employment of BRA (business risk audit) methodologies and the growing im-portance of IS audit.