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How to Comply with Sarbanes-Oxley Section 404 Assessing the Effectiveness of Internal Control

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ISBN-10: 0471653667

ISBN-13: 9780471653660

Edition: 2004

Authors: Michael J. Ramos

List price: $75.00
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Description:

Designed specifically for Sarbanes-Oxley Section 404 compliance, How to Comply with Sarbanes-Oxley Section 404 features: A step-by-step approach to engagement performance Original material from a leading expert in auditing and accounting Practice aids, including forms, checklists, illustrations, diagrams, and tables In-depth explanations to help professionals understand how best to approach the internal control engagement Examples and action plans providing blueprints for implementing requirements of the Act Order your copy today!
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Book details

List price: $75.00
Copyright year: 2004
Publisher: John Wiley & Sons, Incorporated
Publication date: 3/12/2004
Binding: Hardcover
Pages: 304
Size: 6.25" wide x 9.25" long x 1.00" tall
Weight: 1.342
Language: English

Preface
Acknowledgments
The Engagement Approach
Management's Required Assessment of the Entity's Internal Control
The Independent Auditor's Reporting Responsibilities
A Structured, Comprehensive Approach for Evaluating Internal Control
Considerations for Outside Consultants
Action Plan: Structuring the Engagement
Requirements for Management's Assessment Process: Cross Reference to Guidance
Pre-Engagement Questioning Strategy and Example Questions
Internal Control Criteria
The Need for Control Criteria
The COSO Internal Control Integrated Framework
Information and Communication
Monitoring
Business Process Activities
Controls Over Information Technology Systems
Disclosure Controls and Procedures
Example Value Chains
Project Planning
The Objective of Planning
Information Gathering for Decision Making
Information Sources
Structuring the Project Team
Coordinating with the Independent Auditors
Documenting Your Planning Decisions
Action Plan: Project Planning
Summary of Planning Questions
Identifying Significant Control Objectives
Introduction
Entity-Level Control Objectives Presumed to Be Significant
System-Wide Monitoring
Identifying Significant Activity-Level Control Objectives
Coordinating with the Independent Auditors
Action Plan: Identifying Significant Control Objectives
Example Significant Control Objectives
Map to the COSO Framework
Map to the Auditing Literature
Documentation of Significant Controls
Documentation: What It Is ... And Is Not
Assessing the Adequacy of Existing Documentation
Documentation of Entity-Level Control Policies and Procedures
Documenting Activity-Level Controls
Coordinating with the Independent Auditors
Action Plan: Documentation
Evaluating the Design and Implementation of Sarbanes-Oxley Automated Compliance Tools
Linkage of Significant Control Objectives to Example Control Policies and Procedures
Documentation Example
Testing and Evaluating Entity-Level Controls
Introduction
Internal Control Reliability Model
Overall Objective of Testing Entity-Level Controls
Testing Techniques
Evaluating the Effectiveness of Entity-Level Controls
Documenting Test Results
Coordinating with the Independent Auditors
Action Plan: Testing and Evaluating Entity-Level Controls
Survey Tools
Example Inquiries of Management Regarding Entity-Level Controls
Guidance for Designing a Computer General Controls Review
Testing and Evaluating Activity-Level Controls
Introduction
Assessing the Effectiveness of Design
Operating Effectiveness
Evaluating Test Results
Documentation of Test Procedures and Results
Coordinating with the Independent Auditors
Action Plan: Documentation
Example Inquiries
Example Control Activities
Reporting
Annual and Quarterly Reporting Requirements
Expanded Reporting on Management's Responsibilities for Internal Control
Coordinating with the Independent Auditors and Legal Counsel
Action Plan: Reporting
Example Disclosures of a Material Weakness
Example Reports on Management's Responsibilities for Reporting and Internal Control
Index