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…)
Popularity: 30% [?]
1. Personal Gantt chart. Renders Gantt views such as those in Microsoft Project to outline each team member’s own tasks across multiple projects.
2. Task delegation. Once assigned by the project manager, tasks may be delegated from team leaders to team members or from peer to peer. A e delegation feature can also be disabled if desired.
3. View nonworking time. Team members can report nonworking time to the project manager, such as vacation or sick leave, and also report work time that cannot be devoted to the project. (more…)
Popularity: 21% [?]
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% [?]
1. Set responsibility for IT risk management.
2. Set objectives and define risk appetite and tolerance.
3. Identify, analyse and describe risk.
4. Monitor risk exposure.
5. Treat IT risk.
6. Link with existing guidance to manage risk.
Developing good IT risk Management is a key to successful Sarbanes Oxley Implementation, and above all the basic six activities that support them.
Popularity: 11% [?]
1. According to a McKinsey Study, investors in North America and Western Europe will pay a premium of 14 percent for companies with good governance
2. The difference in stock market value for companies that had good internal controls versus those that did not is 33 percent.
3. AMR Research predicted that companies would spend $29.9 billion on compliance initiatives in 2007 alone, up 8.5 percent from the previous year, indicating that GRC spending continues to grow as companies cope with the myriad challenges in this area. (more…)
Popularity: 21% [?]