Controls (ITGCs) Information Technology (“IT”) environments continue to increase in complexity with ever greater reliance on the information. IT general controls (ITGC) are the basic controls that can be applied to IT systems Logical access controls over applications, data and supporting infrastructure. Effect of ITGC on Application. Controls. • Effective IT general controls: – Help make sure that application controls function effectively over time.

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They help ensure the reliability of data generated by IT systems and support the contfols that systems operate as intended and that output is reliable.

The IT organization is typically concerned with providing a secure shared drive for storage of the spreadsheets and data backup.

By using this site, you agree to the Terms of Use and Privacy Policy. Companies must also account for cohtrols that occur externally, such as changes by customers or business partners that could materially impact its own financial positioning e. In addition, Statements on Auditing Standards No. While there are many IT systems operating within an organization, Sarbanes-Oxley compliance only focuses on those that are associated with a significant account or related business process and mitigate specific material financial risks.

The five components of COSO can be visualized as the horizontal layers of a three-dimensional cube, with the COBIT objective domains-applying to each individually and in aggregate.

This scoping decision is part of the entity’s SOX top-down risk assessment. In addition, organizations should be prepared to defend the quality of their records management program RM ; comprehensiveness of RM i. To remediate and control spreadsheets, public organizations may implement controls such as:. IT controls are often described in two categories: Articles lacking reliable references from July All articles lacking reliable references.


Information technology controls – Wikipedia

PC-based spreadsheets or databases are often used to provide critical cnotrols or calculations related to financial risk areas within the scope of a SOX assessment.

Retrieved from ” https: Public companies must disclose changes in their financial condition or operations in real time to protect investors from delayed reporting of material events. By using this site, you agree to the Terms of Use and Privacy Policy. IT application or program controls are fully automated i.

Retrieved from ” https: Like application controls, ckntrols controls may be either manual or programmed. Auditing Information technology audit. It consists of domains and processes. The business personnel are responsible for the remainder. Certifies that financial statement accuracy and operational activities have been documented and provided to the CEO and CFO for certification.

The objectives of ITGCs are to ensure the proper development and implementation of applications, as well as the integrity of programs, data files, and computer operations. They are a subset of an enterprise’s internal control. Examples of general controls include the development and implementation of an IS strategy and an IS security policy, the organization of IS staff to separate conflicting duties and planning for disaster prevention and recovery.

Application controls are generally aligned with a business process that gives rise to financial reports. The five-year record retention requirement means that current technology must be able to support what was stored five years ago.


In considering which controls to include in the program, organizations should recognize that IT controls can have a direct or indirect impact on the financial reporting process.

IT-related issues include policy and standards on record retention, protection and destruction, online storage, audit trails, integration with an enterprise repository, market technology, SOX software and more.

IT departments in organizations are often led by a Chief Information Officer CIOwho is responsible for ensuring effective information technology controls are utilized. Fines and imprisonment for those who knowingly and willfully violate this section with respect to 1 destruction, alteration, or falsification of records in federal investigations and bankruptcy and 2 destruction of corporate audit records.

From Wikipedia, the free encyclopedia.

Information technology controls

SOX Section Sarbanes-Oxley Act Section mandates that all publicly traded companies must establish internal controls and procedures ittc financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. Privacy Information technology governance. These controls vary based on the business purpose of the specific application. GTAGs are written in straightforward business language to address a timely issue related to information technology IT management, control, and security.