What it costs

How much does an independent IT audit cost in Canada?

An audit quote is useful when you know what work it covers. Compare the systems, evidence, depth of examination and deliverables before comparing the headline fee.

In short

The cost of an independent IT audit depends on the agreed scope, complexity, evidence depth and reporting requirements. User and site counts can affect the work, but size alone does not define it. Compare written proposals on the same assumptions, including exclusions, access, deliverables and how changes will be handled.

A focused control review, a broad operational audit and a formal assurance engagement can involve different work and outputs. Establish the purpose and scope before using one quote as a benchmark for another.

What to specify when requesting a quote

Scope factors to discuss
FactorWhat to describe
Systems and complexityPlatforms, dependencies and areas to be examined.
Depth of examinationDocuments, configurations, testing and sampling expected.
Users, devices and sitesPopulation and locations relevant to the scope.
Evidence and accessAvailable records, required permissions and coordination needs.
Intended reader and outputReport purpose, deliverables, restrictions and any external requirements.
Follow-upWhether remediation verification is included; distinguish it from implementing changes.

The time required depends on the actual engagement. Do not treat a generic hours-versus-days comparison or a company's headcount as a reliable quote.

What the proposal should explain

  • The question, scope, exclusions and evidence needed.
  • The fee basis, assumptions and process for agreeing changes.
  • Who performs the work and what experience is relevant.
  • Deliverables, limitations and permitted use or sharing.
  • Relevant interests and independence arrangements.
  • Responsibilities for implementing and checking any follow-up.

If a report is intended for an insurer or another outside reader, confirm that reader's requirements before commissioning work. Payment and independence do not guarantee acceptance.

Compare quotes on a consistent basis

Give each firm the same brief and record differences in scope. Ask for a permitted example or illustration of the deliverable, clearly distinguished from your own future findings.

Ask whether the fee is fixed or estimated, what assumptions it relies on and how changes require agreement. An estimate does not automatically increase; a fixed fee does not eliminate the need to understand exclusions.

The principles of comparing IT proposals also help here. For no-cost offers, examine the assessment's purpose, evidence and incentives.

Decide what the review would help you resolve

Identify the decision or risk question and the uncertainty a review could address. Discuss whether the proposed work is proportionate and whether its timing fits the decision.

For an initial discussion, use the ten-question checklist or the provider-evaluation guide. These are starting points, not substitutes for every type of audit.

Our fee is quoted against the agreed scope rather than published here as a single figure. Discuss the question and intended use of the Actually Review before requesting a proposal.

Common questions

Why is no price published here?
The work needs a defined scope. Discuss the systems, depth, deliverables and assumptions so the written proposal describes the engagement you actually need.
Is an independent IT audit the same as a compliance audit?
Not necessarily. Ask which criteria, work and output the engagement covers. Do not assume an operational IT review provides certification or formal attestation, or that every compliance audit has the same outcome.
Can our IT provider review its own work?
An internal review can provide useful evidence. It is different from an external independent examination. Ask about scope, method and relevant interests in either case.
How long does an audit take?
Agree timing against the scope, available evidence, access, participants and required deliverables. This page does not provide a universal duration.

Tell us what you need verified and who has to read the report, and the scope and the fixed fee come back in writing.

Request an Independent Review

Free PDF  ·  5 pages

Get a free five page PDF checklist with ten questions to ask your IT provider.