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Dominique Sieweke Marketing Manager, AudITech Linkedin Table of Contents As the year-end audit season approaches, finance and internal audit teams are bracing for the annual

Traditional ITGC checklists fall short. Embrace SOX automation for proactive risk management and compliance in complex IT environments.

Sinan Guven Founder and CEO, Guven Partners Linkedin Dominique Sieweke Marketing Manager, AudITech Linkedin Table of Contents In today’s complex financial landscape, organizations face significant

Dominique Sieweke Marketing Manager, AudITech Linkedin Table of Contents In today’s digital landscape, the integrity, reliability, and security of IT systems have become more critical

This guide will help you understand how AI and automation can work together to streamline ITGC auditing and improve overall effectiveness.

As organizations navigate an increasingly digital landscape, IT General Controls (ITGC) audits have become pivotal in ensuring the security, integrity, and compliance of IT environments. These audits focus on evaluating the controls over IT infrastructure that supports financial reporting and sensitive data handling—areas where any failure can lead to costly disruptions and regulatory violations.

A common question that arises is: when do we “perform” the ITGC audit?

The ITGC process is cyclical, resembling the seasons of the year , with each stage being a distinct “season.” Based on my experience, the standard process typically looks like this:

The Sarbanes-Oxley Act of 2002 was enacted to protect investors from fraudulent financial reporting by corporations. SOX compliance is mandatory for all public companies in the U.S. and involves strict auditing, financial reporting, and internal controls.

Effectiveness in the context of internal controls, particularly IT General Controls (ITGC), is not just a regulatory necessity; it’s a cornerstone of corporate governance and risk management. Ensuring that your controls are not only in place but also operating effectively is crucial for safeguarding your organization against potential risks, including financial inaccuracies, data breaches, and compliance failures.

Here’s a roadmap to achieving and maintaining effectiveness in your ITGC framework.

On August 20, 2024, the Securities and Exchange Commission (SEC) approved significant updates to the Public Company Accounting Oversight Board (PCAOB) standards, specifically AS 1105 (Audit Evidence) and AS 2301 (The Auditor’s Responses to the Risks of Material Misstatement). With these amendments, traditional sampling methods alone will no longer suffice. The updated standards are set to reshape auditing practices by providing clearer guidelines on the use of technology-assisted analysis. Here’s a closer look at these changes and their implications for auditors.