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Access "Get ready for Sarbanes-Oxley"

Published: 17 Oct 2012
Who owns storage in your organization?

This article is part of the Vol. 3 No. 3 May 2004 issue of Who owns storage in your organization?

IT auditing basics While several published auditing frameworks exist, when it comes to Sarbanes-Oxley, the one to become familiar with is the "COSO Internal Control--Integrated Framework." The Committee of Sponsoring Organizations of the Treadway Commission (COSO) (www.coso.org), is a voluntary private organization focused on addressing fraudulent financial reporting. This framework has been endorsed by a number of auditing and accounting organizations. There are five key components to COSO: Control environment: the "the tone at the top" of the organization is demonstrated by corporate standards and objectives and a good understanding of roles and responsibilities. Risk assessment: identification and management of both internal and external risks. Control activities: the defined policies, procedures and practices that are in place to achieve business objectives and address risk. Information and communication: making sure that information required to perform control activities is appropriate, accurate, current and available. Monitoring: overseeing and ... Access >>>

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