To date, the PCAOB and external auditors reviewing compliance with Sarbanes-Oxley have been attentive primarily to security, change management, and problem management. A key focus for the audit is integrity of the technology infrastructure for processing, storage, and communication of financial data. This is especially true when financial reports are generated from a data warehouse […]
Popularity: 17% [?]
Controls surrounding third-party services should ensure that roles and responsibilities of third parties are clearly defined, adhered to, and continue to satisfy requirements. Control measures are aimed at reviewing and monitoring existing contracts and procedures for their effectiveness and compliance with organization policy. The dissolution of a major contract could have significant impact on financial […]
Popularity: 11% [?]
Although members of the management team typically prepare the financial statements, it is the board’s responsibility to review and evaluate the statements. Most boards delegate this oversight responsibility to a committee within the board. In pubic organizations, this responsibility has increasingly fallen to the audit committee whose major task is to monitor the preparation and […]
Popularity: 8% [?]
Since there is a lot of framework and methodology available, the company should choose the right framework and methodology that suitable for the company. Some guidance that could be used in these cases is the framework must:
1. Must be directed at the right target (more value from IT)
Since the target is for SOX compliance, the […]
Popularity: 28% [?]