Though they may not be subject to SOX, nonprofits and private companies may still want to leverage some of the internal controls frameworks available, such as COSO’s Internal Control – Integrated Framework (ICIF) and COBIT, to apply risk management and internal controls best practices to their...
Simplistic Active Directory (AD) password managementwith self-service. Free TrialDownload ADAudit Plus– Perfect for AD monitoring and auditing ADAudit Plus is a software tool for monitoring and auditing Active Directory, file servers, and other network resources. It provides real-time alerts, report...
Whistleblower Hotline: Despite federal regulations, the ultimate responsibility of implementing a strong whistleblower program lies with management. Historically, internal employee tip-offs have provided the best means of fraud detection. Hence, management cannot afford to neglect an internal whistleblower...
SOX: Fast Facts and Consequences The act was passed on July 30, 2002, in the wake of the Enron, Worldcom, Tyco International and other high-profile corporate scandals. While the law does not promulgate specific IT provisions, it requires that an independent auditor attest to management's ass...
It is also important to note that ignorance is not bliss when it comes to SOX compliance. If incorrect information is submitted accidentally during a SOX compliance audit, a CEO or CFO can still be fined and imprisoned—up to one million dollars and up to 10 years in prison. Failure to ...
Traditionally, management has not always recognized the return on investment of IT projects, but SOX has changed that to some extent. For example, it may be easier to approve the purchase of data integration and cleaning software, additional data storage, or expensive security and activity monitori...
4. Change Management:Keep records of changes in your IT environment, such as new employees, new computers, and updated software. Ensure that appropriate security measures are maintained throughout these changes. Important Sections of SOX Compliance ...
Educate process owners:Process owners should understand how controls are being performed so that they can properly supervise personnel performing the day-to-day tasks and key controls. Consult with internal audit, SOX consultants, and external auditors:SOX experts can evaluate changes, recommend enhancem...
Update database management processes and document controls Data Auditing Checklist Below outlines some best practices when auditing data across your SQL Server databases: Pervasive - Monitor and record critical data activity across the full range of databases, applications and systems. ...
Best practices for business process modeling in SOX compliance Creating clear and concise process flowcharts One of the best practices forbusiness process modeling in SOX complianceis the creation of clear and concise process flowcharts. Flowcharts visually represent the process, making it easier for ...