SarbanesOxleyFocus.com

Some of direct or indirect benefits of ITIL/ITSM for Sarbanes Oxley (SOX) 404:

1. Sarbanes Oxley Act or SEC give no clear guidance for IT, so most of the CIO will enable the IT Infrastructure Library (ITIL), to ensure that their processes for supporting financial data are sound.

2. Sarbanes Oxley Act is about assessing risk. While risk assessment is an element of ITIL, it isn’t the framework’s primary focus.

3. The Sarbanes-Oxley Act requires only that companies establish controls over the systems relating directly to financial reporting. ITIL, Cobit and other frameworks for IT help companies put in place general controls for IT a good thing to have, but much broader than the narrow scope required by law. (more…)

Popularity: 31% [?]

Download free Taxation Testing Control Matrix and SOD Templates.

This templates covers Major process in Taxation cycle which are:
- Verification of Income Tax
- Verification of Accuracy of Tax Calculation
- Review and Ensure the the Tax Calculation is follow the standards

Segregation of Duties between:
- Authorization
- Custody of Assets
- Recording (more…)

Popularity: 41% [?]

Sarbanes-Oxley Compliance 2007 - Click-Through Demo 1
Size: 12.63MB
License: Free

This is a portable, interactive demo that closely simulates the UI and functionality of an actual solution. Installs to your Start menu and includes a presenter script. Scenario summary: SOX solutions based on the 2007 Microsoft Office system facilitate regulatory compliance and sustainable corporate governance by enhancing visibility over financial processes and internal controls. This version is the first release on CNET Download.com.

Download Page

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 third-party services, Ensure systems security, Manage the configuration, Manage problems and incidents, Manage data, Manage the physical environment and operations

Popularity: 5% [?]

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 and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

• Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company;
• Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company;
• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Popularity: 4% [?]