SarbanesOxleyFocus.com

Download free IT Risk Assessment Template, this template give you simple guidance how to measure impact and likelihood for your IT Risk Management. Risk assessment is a step in a risk management process. Risk assessment is the determination of quantitative or qualitative (more…)

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Segregation of Duties should be enacted properly especially in the area that having a high risk level. Below sample of the SOD Matrix template that can be used to make your own segregation of duties matrix. Some of the key profile that covered in this templates are: (more…)

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1. Weak security
2. Unauthorized access to data
3. Unauthorized remote access
4. Inaccurate information
5. Erroneous or falsified data input
6. Misuse by authorized end users
7. Incomplete processing
8. Duplicate transactions
9. Untimely processing
10. Communications system failure
11. Inadequate training (more…)

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This Sarbanes Oxley Testing Documentation Template contain information about:

Sample Details
- What is being tested?
- What is the population? (List the entire population or reference where the population source.)
- How many items tested?
- How were items chosen?

Description of Validation Performed
Test procedures should only include steps that are actually performed in testing the control description from above.

Validation Results/Findings
The test results should answer the test procedures. The results should reference appropriate supporting documentation.
The exceptions should be listed out individually (with reference information) under the test result steps. (more…)

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Penalties and Requirements under Title VIII of the Act
It is a felony to knowingly destroy or create documents to “impede, obstruct, or influence” any existing or contemplated federal investigation.

Auditors are required to maintain “all audit or review work papers” for five years.

A statute of limitations on securities fraud claims is extended to five years from the fraud and two years after the fraud was discovered, from three years and one year, respectively.

Employees of issuers and accounting firms are extended “whistleblower protection” that would prohibit the employer from taking certain actions against employees who lawfully disclose private employer information to, among others, parties in a judicial proceeding involving a fraud claim. Whistleblowers are also granted a remedy of special damages and attorney’s fees.

Penalties and Requirements under Title IX of the Act
Maximum penalty for mail and wire fraud increased from five to ten years. (more…)

Popularity: 24% [?]