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SOX act is a US Federal law passed in response to the major corporate scandals such as Enron and World com. It has reformed how corporate business practices and compliance regimes. SOX has set parameters for overseeing, regulating, inspecting and disciplining the accounting, auditing and reporting processes. Similarly, SOX has changed the way an IT Audit has to be done.
Briefly, the SOX IT Audit requires that:
- There are adequate controls in place to prevent fraud, misuse and/or revenue losses.
- The controls must have efficacy and ability to detect problems promptly so that effective and timely actions can be taken.
- A SOX Section 404 audit is a subset of the overall financial audit and governance control audit.
We at Cyber Radar Systems understand how to make best compliance with SOX IT Audit requirements like no one else. We take into consideration that the main objective of SOX IT Audit is to ensure that the reports generated by the IT, to cater to needs to management and stakeholders, are accurate and reliable. So the primary focus is on providing reasonable assurance that internal controls are in place and that the quality and integrity of information generated by IT systems is reliable.