4th Annual Houston ISACA Cybersecurity Conference

4th Annual Houston ISACA Cybersecurity Conference

Friday, October 6th, HCC West Loop Center
5601 West Loop S, Houston, TX 77081  9 am - 4 pm
$50 for ISACA members and $75 for non-members

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CSX 2017 North America

Be one of the first 200 people to register and pay in full and received $200 off registration fees.

2-4 October | Washington, DC, USA

Be a part of the dynamic and collaborative learning atmosphere America.

 

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Wednesday, 31 May 2017 00:00

7 Cost Cutting Strategies for SOX IT Audits

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By Mandy Harris [Presented during our Monthly meeting - May 2017]
 
In recent years, companies have seen dramatic increases in the costs for Sarbanes-Oxley (SOX) audits.  A significant portion of the cost is attributed to new requirements from the PCAOB, including the much more extensive procedures required for validating information produced by the entity (IPE).  With the cost of SOX compliance on the rise, organizations are struggling to find areas where they can cut costs or at least contain them. 
Cost cutting strategies that can be used by companies to ensure that they are conducting the most efficient and effective SOX IT audits are as follows:
 
Seven Cost Cutting Strategies
  1. Using Application Controls
  2. Using Financial Auditor Templates
  3. Automating SOX Documentation
  4. Using Audit Tools
  5. Outsourcing (where it makes sense)
  6. Establishing Best Practices
  7. Following Established Controls
 
The usage of applications controls and how they can be employed more extensively to reduce the cost of compliance are straightforward simple to follow. Furthermore, emerging technologies that can be used to streamline the audit process are widely available and can easily be adapted to your specific situation.   
 
There are many other specific strategies that can be used with your team and your financial auditors to ensure that audit work can be leveraged to the greatest extent possible.  For more information pease contact .... if you need a guideline that identifies application controls that can be used to reduce the cost of compliance please feel free to download here.
 
[To download copy of the presentation please CLICK HERE]
Read 251 times Last modified on Monday, 05 June 2017 20:09
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