Kenneth A. Griggs, Rosemary Wild Orfalea College of Business, California Polytechnic State University, San Luis Obispo, CA, U.S.A.

Slides:

Advertisements

Similar presentations

Nishidh, CISSP. To comply with Sarbanes oxley and other legislations To comply with industry standards and business partner requirements To protect.

Advertisements

Contract Review Process Round Table Corporate Counsel Section April 11, 2007.

STORAGE MANAGEMENT/ GETTING STARTED: Storage Management 101 Everything you always wanted to know about Storage Management (but were afraid to ask) Stephen.

Sarbanes-Oxley Act of 2002 UAA – ACCT 316 – Fall 2003 Accounting Information Systems Dr. Fred Barbee.

IT Governance Infocom India Presentation December 6, 2006.

MODERN AUDITING 7th Edition

Forces of Change Don H. Hansen Health Care Services Partner

Correlation Risk in the Post-Enron World Professional Liability ExecuSummit September 21, 2004 Chris Duca Chris Duca Navigators Pro Navigators Pro September.

IS3350 Security Issues in Legal Context

The Regulation Zoo: Dealing With Compliance Within The Firewall World

Sarbanes-Oxley Act. 2 What Is It? Act passed by Congress in response to the recent and continuing corporate scandals. Signed into law July 30, Established.

Henri Yuan ITRN603 Fall 2014 Beyond Eron Scandal: Trade Implications on Corporate Social Responsibility of U.S. firms abroad.

Fraud Auditing Chapter 11.

Corporate Corruption, Integrity and Governance Symposium IOSCO - Global Standard Setter Jane Diplock AO Chairman New Zealand Securities Commission IOSCO.

1 Sarbanes-Oxley Section 404 June 29,  SOX 404 Background 3  SOX 404 Goals 4  SOX 404 Requirements 5  SOX 404 Assertions 6  SOX 404 Compliance.

Sarbanes-Oxley: where Information-Technology, Finance and Ethics Meet

WELCOME Annual Meeting & Compliance Seminar. Code of Conduct - Impact on Corporate Culture by Andy Greenstein Knight Capital Group, Inc.

Operational risk management Margaret Guerquin, FSA, FCIA Canadian Institute of Actuaries 2006 General Meeting Chicago Confidential © 2006 Swiss Re All.

1 SAP Security and Controls Use of Security Compliance Tools to Detect and Prevent Security and Controls Violations.

Adam Bearhalter Kristy Kelly Julie Bland Alex Tiset.

Chapter 7 Control and AIS Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall 7-1.

1 Pertemuan 6 Internal Control System Matakuliah:A0274/Pengelolaan Fungsi Audit Sistem Informasi Tahun: 2005 Versi: 1/1.

Audit considerations for your 11i implementation Richard Byrom Oracle Applications Consultant EOUG October 2003.

MIS350 Accounting Information Systems Course Context.

Implementing and Auditing Ethics Programs

Managing Projects

“The Impact of Sarbanes Oxley, An Evolving Best Practice” Ellen C. Wolf Senior Vice President & Chief Financial Officer American Water National Association.

1 Business Continuity and Compliance Working Together Kristy Justice, AVP WaMu Card Services 08/19/2008.

BRIEFING TO THE PORTFOLIO COMMITTEE ON THE DPSA’S RISK MANAGEMENT STRATEGY PRESENTATION TO THE PORTFOLIO COMMITTEE 12 MAY

® SOX Overview MTAC Meeting August 7, The Sarbanes-Oxley Act  Enacted in 2002 as a result of a series of large corporate financial scandals  Improves.

Chicagoland IASA Spring Conference

Internal Auditing and Outsourcing

The purpose and role of an audit committee Neeta Major Chief Internal Auditor.

The Sarbanes-Oxley Act of PricewaterhouseCoopers Introduction of Panel Members The Sarbanes-Oxley Act of 2002 What Companies Should Be Doing Now.

2012 Governance & Leadership Institute January 29 – 30, 2012.

Vijay V Vijayakumar.  SOX Act  Difference between IT Management and IT Governance  Internal Controls  Frameworks for Implementing SOX  COSO - Committee.

Implementation Issues of Sarbanes-Oxley CASE Presentation September 23, 2004 By Denise Farnan.

Slide 1 The 9 th European Financial Markets Convention “Towards true integration by 2009” Brussels May 2005 Corporate Governance Session by the ECGI.

Overview:  Different controls in an organization  Relationship between IT controls & financial controls  The Mega Process Leads  Application of COBIT.

1 Today’s Presentation Sarbanes Oxley and Financial Reporting An NSTAR Perspective.

1 Information Technology (IT) Auditing & Control Instructor: Dr. Princely Ifinedo Cape Breton University (CBU)

TWO FIELDS…ONE JOB: THE RELATIONSHIP BETWEEN ACCOUNTING AND IT By: Jodi L. Benson July 2005.

1 A Common Sense Look at Sarbanes-Oxley Presentation to the MIT Auditing Committee of the Corporation June 8, 2003.

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Principles of Accounting (Accounting 1 for BBA - Undergraduate) SBS Victor Yerris, PhD

1 Sarbanes-Oxley Overview. 2 Sarbanes-Oxley Act Summary The Sarbanes-Oxley Act of 2002 §201Prohibited Non-Audit Services §202Audit Committee Pre-Approval.

Manchester Metropolitan University Department of Clothing Design and Technology Where Teaching is Research Lead.

AUDIT COMMITTEES کمیته های حسابرسی. مطلب تویی طالب تویی، هم منتها، هم مبتدا خورشید را حاجب تویی، امید را واجب تویی.

Kenneth Cole Gets Serious About Sarbanes-Oxley Sarbanes-Oxley Group E: TonyMohammadLeo.

Company: Cincinnati Insurance Company Position: IT Governance Risk & Compliance Service Manager Location: Fairfield, OH About the Company : The Cincinnati.

By: Mark Nelson. Sarbanes-Oxley Overview Named after sponsors Senator Paul Sarbanes and Representative Michael G. Oxley Enacted on July 30, 2002 Contains.

Sarbanes-Oxley Act a.k.a. “SOX” Georgia CTAE Resource Network Curriculum Office, February 2009 To accompany curriculum for the Georgia Peach State Career.

WESTERN PA CHAPTER OF THE AMERICAN PAYROLL ASSOCIATION – NOVEMBER 4, 2015 Risk Management for Payroll.

C OBI T Brooke Pollack & Ian Paul November 14, 2007.

Deck 5 Accounting Information Systems Romney and Steinbart Linda Batch February 2012.

Operational Resilience DR’s Big Data Dilemma September 16, 2015 Datalink IT Resiliency Practice.

Alex Ezrakhovich Process Approach for an Integrated Management System Change driven.

Copyright © Houghton Mifflin Company. All rights reserved.8-1 Chapter 8 Developing an Effective Ethics Program.

Major Project Governance Assessment Toolkit Mark Ritchie, University of Edinburgh Pauline Woods-Wilson, Lancaster University Project and Change Management.

Lecture 5 Control and AIS Copyright © 2012 Pearson Education 7-1.

© 2007 by Prentice HallManagement Information Systems, 10/e Raymond McLeod and George Schell 1 Information Auditing ► External auditors from outside the.

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at.

Implementing Security Compliance using Policy Groups

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at.

Chang-Tao, Morris Wu 2nd MBA Dec 15, 2008

Data Privacy: Essentials for Payroll

Sarbanes-Oxley Act (404) An IT Viewpoint

WELCOME AUDIENCE.

What is IT audit? An examination of how IT systems where implemented to ensure that they meet the organization’s business needs without compromising.

An IT Viewpoint Darin Kreimeyer, Senior Manager Newel Linford, Manager

Agility Business Management System

Presentation transcript:

Kenneth A. Griggs, Rosemary Wild Orfalea College of Business, California Polytechnic State University, San Luis Obispo, CA, U.S.A.

A Brief Outline Background & Motivation The Sarbanes-Oxley Act (SOX) The software vendor response to SOX Private versus public What worked, what failed Areas for potential convergence in eGoverment Conclusion

Background Employees of large accounting/consulting firms report problems in risk management and SOX compliance efforts SOX and related software tools publicly criticized as being ineffective Increasing interest by governments in risk management, security and SOX-like efforts

Motivation for the Work Increasing importance of security and accountability SOX & Euro SOX Software tool failure Can software tools be migrated from private to public?

What is Sarbanes-Oxley (SOX)? Sponsored by Senator Paul Sarbanes (Democrat- Maryland) and Representative Michael G. Oxley (Republican-Ohio) in 2002 Response to the Enron scandal 30,000 words and nearly seventy requirements designed to reform the governance, auditing, and reporting practices of American businesses.

Highlights of SOX Section 302 (Corporate Responsibility for Financial Reports) Section 401 (Disclosures in Periodic Reports) Section 404 (Management Assessment of Internal Controls) Section 409 (Real Time Disclosures) Section 802 (Record Retention Procedures and Violation Penalties)

Essential Elements of SOX The Control and Monitoring Environment Risk Assessment Accountability Audit

Software Tools in Internal Control The Sarbanes-Act stimulated the creation of an array of new software tools to assist in internal control, auditing, and SOX compliance.

Software Functional Areas

Risk Assessment Feedback Loop

Government & Private Sector Differences

Progression of SOX Compliance Activities

Government vs. Private Sector

SOX Software Failure Inflexibility Lack of integration capability Excessive complexity Fixed Workflow Process Narrative/Process Mapping problems

Characteristics of Software that Worked General purpose Team oriented Templatized Visual Narrow within a domain Handled unstructured data

Some Thoughts on the Differences Between Europe and the U.S. Differences in fraud – Enron vs. Parmalat –will the differences carry over? Variability among European states The role of the EU IT environment issues

Conclusion Software is immature SOX specific tools generally performed poorly SOX-specific tools need major modifications to be of use in government More unstructured data tools needed Team oriented tools are essential to success Government implementation could be a much harder problem to address