The auditor has a responsibility to the various users of financial statements including share-holders, debtors, creditors etc. for ensuring the fairness of these statements. In this regard, the auditor is governed by an audit framework as well as a regulatory environment that includes standards. Also, the auditor performs a risk assessment so that the audit strategy is adapted for detecting fraud or error that can contribute to a material misstatement of these financial statements..

Please evaluate the impact information technology can have on the audit process focusing on the risks associated with internal controls?