4 - IS Audit and Input Controls

In 1994 edpaa changed its name to information systems

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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 Statement Audit 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 external 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 th 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 quar...
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