Spend a few minutes with an IT wonk, from the CIO down to the most junior programmer, and you will find a common and unfortunate fault: excessive whining. Your average IT worker can regale you with endless tales of woe: from lack of funding and the evils of outsourcing, to a dearth of acknowledgement for […]
Popularity: 6% [?]
According a survey from KPMG and the National Association of Corporate Directors. The top priority for audit committee agendas are:
1. Risk Management
2. Accounting Judgments and Estimates
3. IT Risk and Governance
28 percent of audit committee members are “very satisfied” they understand the process that management uses to identify and assess significant business risks, and only 21 […]
Popularity: 6% [?]
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: 9% [?]
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: 20% [?]
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: 24% [?]
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: 24% [?]
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: 22% [?]
Security Procedure Compliances Forum