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  • Information System Risk Assessment tool

    The Information System Risk Assessment (ISRA) tool is available for privately owned business clients and their advisors. It helps you to self-assess the integrity of your Information Technology (IT) systems.

    The tool establishes if the IT systems are well governed with appropriate controls to help businesses meet tax and super reporting obligations.

    The ISRA tool will help you to:

    • self-assess the potential risks and integrity of your IT systems for effectiveness of internal controls to manage financial information and reporting
    • put recommended actions in place to reduce any determined IT system risks
    • re-assess your IT governance after new controls have been put in place

    The ISRA tool is based on the guidelines and assurance frameworks set out by the Information Systems Control Association and the IT Governance Institute.

    Under the Top 500 private groups tax performance program, the ISRA tool has been used in all engagements to assist with assessing private group's tax governance framework. For any new engagements under this program commencing from 1 July 2020, the tool may be used in circumstances where appropriate.

    The ISRA tool is not used as part of tax governance reviews for public and multinational businesses. For the approach used in this market refer to:

    The importance of tax governance

    Your IT systems play a key role in supporting effective tax governance. It's important your systems have the right internal controls in place to ensure the accuracy and completeness of your tax and super reporting and lodgment activities. The ISRA tool was designed with this in mind to help you.

    Download the ISRA tool

    The ISRA tool runs on a Microsoft Access database.

    To use the tool effectively you must have Microsoft Access and Microsoft word available on the computer or device you are downloading the file to.

    Follow the below steps to download the ISRA tool access database:

    The ISRA database is now ready for you to use.

    Next steps:

    See also:

    Last modified: 01 Dec 2020QC 59348