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ePub Are You Ready for IT Control Identification and Testing? (Webcast 2 from Meeting the 404 Challenge: Internal Audit's Role) download

by The Institute of Internal Auditors

ePub Are You Ready for IT Control Identification and Testing? (Webcast 2 from Meeting the 404 Challenge: Internal Audit's Role) download
Author:
The Institute of Internal Auditors
ISBN13:
978-0894135378
ISBN:
0894135376
Publisher:
The Institute of Internal Auditors Research Foundation (February 2004)
Category:
ePub file:
1204 kb
Fb2 file:
1389 kb
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Rating:
4.8
Votes:
212

The Institute of Internal Auditors February 10, 2004 Moderator: Xenia Ley . 30 John Gimpert, CPA Deloitte Are you Ready for IT Control Identification & Testing?

The Institute of Internal Auditors February 10, 2004 Moderator: Xenia Ley Parker, CIA, CISA, CFSA XLP Associates. 29 Documenting General Controls Testing Define Testing Scopes Build Testing Plan Execute Testing Analyze Test Results Update Testing For IT General Controls testing – Documentation of testing should be tested similar to other processes with pervasive controls: There needs to be documentation standards for inquiry, inspection, observation and re-performance testing- scoping should be based on overall approach Evidence of tests should be retained. 30 John Gimpert, CPA Deloitte Are you Ready for IT Control Identification & Testing?

Balancing 404 Sarbanes-Oxley Compliance and Risk Audit Planning (Webcast 3 from Meeting the 404 Challenge: Internal Audit's .

Balancing 404 Sarbanes-Oxley Compliance and Risk Audit Planning (Webcast 3 from Meeting the 404 Challenge: Internal Audit's Role). What is Internal Audit¿s Role in Management¿s Assertion? (Webcast 5 from 2004 Webcast Series). Sarbanes-Oxley Act Webcast Series 2 (Webcast 5) Internal Audit Support of Audit Committees.

The Institute of Internal Auditors February 10, 2004 Update Testing Define Testing Scopes Build Testing Plan Execute Testing Analyze Test Results Documenting General Controls Testing.

The Institute of Internal Auditors February 10, 2004. Update Testing Define Testing Scopes Build Testing Plan Execute Testing Analyze Test Results Documenting General Controls Testing For IT General Controls testing –, Documentation of testing should be tested similar to other processes with pervasive controls:, There needs to be documentation standards for inquiry, inspection, observation and re-performance testing- scoping should be based on overall approach, Evidence of tests should be retained for.

s Chartered Institute of Internal Auditors has published a code of practice that makes recommendations aimed at preventing corporate failures.

following a series of high-profile company failures. s Chartered Institute of Internal Auditors has published a code of practice that makes recommendations aimed at preventing corporate failures.

a) Explain internal control and internal check b) Explain the importance of internal financial controls in an. .

a) Explain internal control and internal check b) Explain the importance of internal financial controls in an organisation c) Describe the responsibilities of management for internal financial control. The article will also describe the roles of internal audit and internal audit testing, relevant to section C2(e) and (f) of the study guide. Definition and purposes of internal control. The Turnbull Report, first published in 1999, defined internal control and its scope as follows: ‘The policies, processes, tasks, behaviours and other aspects of an organisation that taken together

Identification - controls that ensure all users are uniquely and irrefutably .

Identification - controls that ensure all users are uniquely and irrefutably identified. Authentication - controls that provide an authentication mechanism in the application system. IT controls that typically fall under the scope of a SOX 404 assessment may include: Specific application (transaction processing) control procedures that directly mitigate identified financial reporting risks. As external auditors rely to a certain extent on the work of internal audit, it would imply that internal audit records must also comply with Section 802.

Separate evaluations such as period audits by internal auditors. One basic concept of internal control is that no one employee should handle all aspects of a transaction. 3. Test and evaluate design effectiveness of . Identify the four types of control activities and describe how each type contributes to effective internal control. 5. Form an opinion on the effectiveness of . over financial reporting.

How Internal Audit is Critical for Risk Identification and Mitigation . We will discuss the obvious red flags, other red flags and controls that could have been in place and some that actually were, that could and should have prevented the fraud. Using these cases we will analyze and discuss examples of fraud schemes to highlight details of how, when, where and what caused these frauds to occur. We will also identify the role Internal Audit plays and the crucial relationships needed to support their role and why Internal Audit must have a seat at the table throughout the entire risk assessment process.

We are proud to announce the 2004 Webcast Series, Meeting the 404 Challenge: Internal Audit's Role. This series of ten Webcasts focuses on major challenges facing internal auditors in implementing the Sarbanes-Oxley Act.

Webcast 2 Program Objectives -Become familiar with the new SOX IT general control requirements. -Understand identification, selection, and testing of business-critical IT general controls. -Learn why you may not need a full-blown general control review. -Understand the relationship of those IT areas to application controls. -Find out leading practices and what other companies are doing. -Learn how one organization is using COBIT®. -Hear what outside service providers are seeing at client companies.

Webcast 2 Program Content -Introduction and overview of new SOX IT general control requirements. -Identification, selection and testing of business-critical IT general controls. -Identification, selection and testing of application controls. -How one organization is using COBIT. -Questions and answers.