A high-level mapping of the IT control objectives for Sarbanes-Oxley described in this document, IT general controls identified by the PCAOB and the COBIT 4.0 processes.
These 12 controls are: acquire and maintain application software, Acquire and maintain technology Infrastructure, Enable operations, Install and accredit solutions and changes, Manage changes, Define and manage service levels, Manage […]
Popularity: 43% [?]
The SEC’s final rules define internal control over financial reporting as a process designed by, or under the supervision of, the company’s principal executive and principal financial officers, or persons performing similar functions, and effected by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting […]
Popularity: 41% [?]
There is even a movement toward an Extensible Markup Language (XML) standard to promote a global GAAP. The Extensible Business Reporting Language (XBRL) is an attempt to create an internet-based global reporting language. XBRL would permit investors, analysts, and regulators to review and evaluate financial data more easily and efficiently. Because it is an XML […]
Popularity: 39% [?]
Latest survey from Georgia State and Clemson universities about Sarbanes Oxley. Said that While the chiefs of corporations across the United States view the 2002 federal accounting statute as reactionary and over-burdensome, they still cite “improper accounting practices” as the No. 1 ethical issue facing business today, according to a survey conducted by ethics centers […]
Popularity: 46% [?]
The Corporate Fraud Task Force claims more than 1,300 corporate fraud convictions since its inception less than six years ago. That includes more than 200 CEOs and presidents, 50 CFOs, and 120 vice presidents. That’s a lot of fraud.
Just looking at technology-related companies, federal agencies have successfully brought fraud and related charges against executives of […]
Popularity: 37% [?]
The increased demand on a variety of information systems that will come with IFRS conversion. gThe following operations need special consideration:
Collection of data and notes
Validation and adjustment of external and internal data
Full reporting process mapping
Detailed reports
Filing processes (e.g., 20-F, 6-K)
Low-level, ad hoc analysis
Integrated reporting and controlling dialogue
There will also be greater demand for near real-time […]
Popularity: 27% [?]
Did you know that the difficulty in scaling existing compliance such as Sarbanes Oxley, HIPPA, PCI DSS, and security management programs to meet new requirements is creating a resource crisis within many organizations. As a result, large enterprises are seeking ways to actively streamline their compliance activities, to operationalize their security management programs, and to […]
Popularity: 47% [?]