Unformatted text preview: ives for IT auditors – Commonly called SOX or Sarbox. • In 1994, EDPAA changed its name to Information
Systems Audit and Control Association (ISACA)
Systems Audit and Control Association (ISACA).
BUSI 335 Copyright © 2009-10 Y.M. Cheung, W. Tan, C. Woo and P. Bera 7 BUSI 335 Copyright © 2009-10 Y.M. Cheung, W. Tan, C. Woo and P. Bera 8 Structure of a Financial
Audit SOX and Audit Implications
SOX and Audit Implications
• Was established for new corporate governance The primary objective and responsibility
primary objective and responsibility
of the external auditor is to attest to the
fairness of a firm’s financial reports.
of firm financial reports regulations and standards for public companies registered
with SEC (Securities and Exchange Commission) • Corporate management should certify the internal controls
over financial reporting The external auditor
The external auditor serves outsiders.
outsiders. • Corporate management should disclose any changes in
management should disclose any changes in
the internal controls that have occurred in the recent
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- Spring '12
- Financial audit, Y.M. Cheung, P. Bera