ITF in Audit Meaning
The ITF meaning in Audit terms is "Integrated Test Facility". There are 2 related meanings of the ITF Audit abbreviation.
ITF on Audit Full Forms
- Integrated Test Facility Creates a fictitious entity in a database to process test transactions simultaneously with live input.
- Integrated Test Facilities An integrated test facilities (ITF) creates a fictitious entity in a database to process test transactions simultaneously with live input.It can be used to incorporate test transactions into a normal production run of a system. Its advantage is that periodic testing does not require separate test processes. However, careful planning is necessary, and test data must be isolated from production data. Integrated test facility is considered a useful audit tool during an IT audit because it uses the same programs to compare processing using independently calculated data. This involves setting up dummy entities on an application system and processing test or production data against the entity as a means of verifying processing accuracy.
Frequently Asked Questions (FAQ)
What does ITF stand for Audit?
ITF stands for Integrated Test Facility in Audit terms.
What is the shortened form of Integrated Test Facility in Audit?
The short form of "Integrated Test Facility" is ITF for Audit.
Citation
ITF in Audit. Acronym24.com. (2021, December 15). Retrieved November 25, 2024 from https://acronym24.com/itf-meaning-in-audit/
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