Thanks, in part, to the fallout from the financial scandals of Enron, WorldCom, Tyco and others, the corporate spotlight is being refocused on the audit function. However, by waiting until systems are live and in production before applying an audit regimen, you may miss an excellent opportunity to establish effective controls at the outset, when the enterprise software is being implemented. Read on to learn where and how, as an executive sponsor, project manager, or team member, you can instill audit procedures that can continue throughout the life of the software.
the respondents believe that Section 404 of the Act, which requires business process audits and documentation to support internal controls certification, is the most critical part of SOX. While some may argue that the Act does not go far enough, it is surely a positive, aggressive start. While this reemphasis may be good news for current and ongoing systems, the process of developing an audit awareness and the need for substantial controls can and should be established as software is being implemented.