Today’s IT solutions are complex, and they are getting more challenging to implement all the time. One of the great questions for management at any company these days is simply whether all the investment in those systems is worth it. Internal auditing can play a critical role there, measuring and inspecting how the IT investment process—specifically, how IT investment is managed—works.

There are two distinct elements to most IT investment audits. They are the evaluation of:

(1) How that management process is “scoped out,” designed, and implemented; and

(2) How that management process then operates, including an assessment of the business priorities ...