Chief Audit Executives (CAEs) can use this checklist to examine their IT control framework to ensure the organization has addressed all control elements. The checklist can help the CAE understand the issues and plan for full internal audit coverage of the control areas.
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Increased shareholder value: A properly functioning and documented governing framework can provide corporate leaders with an increased sense of security as they reflect on the efforts they are making toward managing compliance and risk issues. Governance can also provide reassurance to those outside of the company by demonstrating the organization’s capacity for understanding the need to manage risk and compliance issues as well as its ability to institute a functioning GRC system. The result can be measured in the strengthening of the company’s brand and reputation, which translates into stronger shareholder value.
Lower overall costs: A unified and holistic approach to GRC also helps to lower the overall yearly costs to managing a company’s risk and compliance activities. For example, a GRC approach increases efficiency, allowing a company to reduce the number of people dedicated to this function and the number of hours required to carry out risk and compliance duties.
Improved financial performance: A strong governing framework facilitates transparency, giving company leaders a logical and structured process to proactively and more effectively address risk scenarios and compliance issues. Further, by providing the tools to mitigate risk and manage compliance, companies can reduce performance variability and increase overall financial performance. (more…)
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Governance guidelines, which are the policies and rules of the game for a company that explain how the company will be run to best meet its obligations and pursue the business strategy, are set forth by senior management. The operational executives then carry out programs and put in place controls that ensure compliance, frequently with the help of consultants or auditors who are expert in applying GRC. Risk management results in the creation of mechanisms so that risks can be brought to the attention of senior managers who then take steps to reduce them.
Popularity: 11% [?]
There are three perspectives of Identity Management nowadays:
1. The pure identity paradigm: Creation, management and deletion of identities without regard to access or entitlements;
2. The user access (log-on) paradigm: For example: a smart card and its associated data used by a customer to log on to a service or services (a traditional view);
3. The service paradigm: A system that delivers personalized, role-based, online, on-demand, multimedia (content), presence-based services to users and their devices.
Each of this perspective has their own approach for audit & compliance for Sarbanes Oxley. So just try each own approach to makes better system compliances process.
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Sample impact assessment template for SOX 404. This template would be useful to create assessment templates
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