IT controls : Sarbanes-Oxley and IT governance
15 important questions on IT controls : Sarbanes-Oxley and IT governance
What is section 404 of SOX?
Compliance with sect. 404, management needs to provide the external auditors with documented test results, performed by internal auditor/SOX specialist, of functioning controls as supporting evidence for assertions in its report on control effectiveness.
Which two information system controls groups are identified by COSO?
general control/general computer controls/information technology controls: It applies to all system, supporting application controls and have an affect on transaction integrity. e.g. database security
Which duties should be segregated within the centralized firm?
2. Database administrator (DBA) has to be segregated from other IT functions.
3. DBA & SD
4. Separating New System Development from Maintenance
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Why should systems development and maintenance by separated?
Why should DBA be separated from other IT functions?
Why should DBA and SD be separated?
Why should new systems development be separated from maintenance.
When a system is poorly documented, it is difficult to interpret, test and debug. Maintenance group requires adequate documentation to perform their maintenance duties.
What are the IT control implications that management and accountants should recognize on DDP?
Redundancy: autonomous SD activities throughout the firm can result in the creation of redundant applications and database.
Consolidating Incompatible Activities, operationally infeasible for segregation of duty
Difficulty in Acquiring Qualified Professionals
Lack of Standards
What kind of advice and expertise does the corporate IT function provide to the various distributed IT functions?
User Services. Provides help in installation, troubleshooting hardware & software problems.
Standard-setting body. Establish & distribute to user areas appropriate standards for systems development, programming and documentation that will be compliant with SOX requirements.
Personnel review. The corporate group is better equipped than users to evaluate the technical credentials of prospective systems professionals.
What are the audit procedures that relate to organizational structure?
Review relevant documentations: organizational chart, mission statement, job description for key functions to determine if individuals-groups perform incompatible function.
Review system documentation and maintenance records for a sample of applications. Verify that maintenance programmers are not the original design programmers.
Through observation, determine that the segregation policy is being followed. Review operations room access logs to determine if programmers enter the facility for reasons other than system failures.
Review user rights and privileges to ensure these are consistent with their job description.
What are the audit objectives related to computer center security?
(2) insurance coverage on equipment is adequate to compensate the organization for the destruction-damage to its computer center. Auditors should annually review the insurance coverage, verify all new acquisitions are listed and obsolete equipments & software have been deleted.
(3) operator documentation is adequate to deal with routine operations as well as system failures.
What is an empty shell or cold site plan?
What is a recovery operations center or hot site?
What is an internally provided backup/ own remote mirrored data center?
What is a disaster recovery team?
control concerns do not apply in this setting. Business continuity is the primary consideration.
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