The business world has changed. The COVID pandemic had a much greater impact on all aspects of business than many of us may have expected. Technology has skyrocketed business to a new age. A recent study indicated that over the two initial years of COVID, technology has advanced ten-fold over what would have been expected had the pandemic not occurred. This occurred due to the need to adapt. To be able to work efficiently and continue business, technology had to advance and workers had to adapts. Gone are the days of in-house hardware processing systems and punching cards.

So, what are the important concepts an accounting professional should understand regarding information technology? The rapidly evolving relationship between accounting and information technology means accountants now need to understand how technology impacts business, and how it can be used to improve operational efficiency, achieve regulatory compliance, support financial reporting and management and even increase revenues.

In today’s global and dynamic economy, it is critical all professionals have an understanding of how information technology impacts their jobs as well as businesses is essential. Information technology (IT) involves the study and application of computers and any type of telecommunications that store, retrieve, study, transmit, manipulate data and send information. This involves a combination of hardware and software that is used to perform the essential tasks that people need and use on the everyday basis.

Learning Objectives
  • Identify the importance of information technology in today’s business world.
  • Discover and evaluate the definition of IT and many of the most important IT terms used in the business world as well as the benefits for internal control.
  • Explore and examine the concepts of IT governance.
  • Explore and examine concepts of an IT Risk Assessment.
  • Explore Application Controls (AC) vs. General Controls (GC).
Last updated/reviewed: August 18, 2023
2 Reviews (15 ratings)


Anonymous Author
Good refresher on ITGCs and application controls. Very helpful.

Anonymous Author
Good primer, will be useful in my work as a CPA. Thank you!

Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
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Course Syllabus
  Primer Information Technology Controls - Impact on Accounting (Text Based Course)PDF