Sarbanes-Oxley and the New Internal Auditing Rules

by Moeller, Robert R.

• ISBN13: 9780471483069
• ISBN10: 0471483060
• Edition: 1st
• Format: Hardcover
• Copyright: 2004-02-05
• Publisher: Wiley

Summary

Sarbanes-Oxley and the New Internal Auditing Rules thoroughly and clearly explains the Sarbanes-Oxley Act, how it impacts auditors, and how internal auditing can help with its requirements, such as launching an ethics and whistle-blower program or performing effective internal controls reviews under the COSO framework. With ample coverage of emerging rules that have yet to be issued and other matters subject to change, this book outlines fundamental blueprints of the new rules, technological developments, and evolving trends that impact internal audit professionals.Order your copy today!

Author Biography

ROBERT R. MOELLER is an internal audit specialist and project manager with a strong understanding of information systems, corporate governance, and security. A CPA, CISA, and a CISSP, Moeller has managed several information systems audit functions and served as audit director for Sears Roebuck. In the late 1990s, Moeller launched a business, Compliance and Control Systems, that delivered seminars throughout the United States on corporate governance, COSO, and the importance of Codes of Conduct well before Sarbanes-Oxley and today’s interest in those areas. A frequently published author and professional speaker, Moeller provides insight into many of the new rules impacting internal auditors today as well as the challenges audit committees face when dealing with Sarbanes-Oxley, internal controls, and their internal auditors.

Table of Contents

Preface	xi
Introduction	1	(8)
Accounting and Auditing Scandals and Internal Audit	1	(2)
What Are the New Rules?	3	(4)
Who Will Find this Book Useful?	7	(2)
Internal Audit and the Sarbanes-Oxley Act	9	(50)
``Where Were the Auditors?'' Standards Failure	10	(2)
Sarbanes-Oxley Overview: Key Internal Audit Concerns	12	(45)
Impact of the Sarbanes-Oxley Act on the Modern Internal Auditor	57	(2)
Heightened Responsibilities for Audit Committees	59	(12)
Audit Committee Charters and Other Requirements	60	(4)
Board's ``Financial Expert'' and Internal Audit	64	(3)
Helping to Establish Documentation Procedures	67	(2)
Controlling Other Audit Services	69	(1)
Establishing Open Communications	70	(1)
Launching an Ethics and Whistleblower Program	71	(32)
Launching an Organization Ethics Program	72	(7)
Establishing a Mission or Values Statement	79	(2)
Codes of Conduct	81	(8)
Whistleblower and Hotline Functions	89	(10)
Auditing the Organization's Ethics Functions	99	(4)
COSO, Section 404, and Control Self-Assessments	103	(62)
SOA Section 404	104	(19)
COSO Internal Control Framework	123	(23)
Violation Penalties: Organizational Sentencing Guidelines	146	(9)
Control Self-Assessments	155	(10)
IIA, CobiT, and Other Professional Internal Audit Standards	165	(24)
Institute of Internal Auditors Standards for Professional Practice	165	(10)
CobiT and Information Technology Governance	175	(8)
ASQ Audit Standards: A Different Approach	183	(6)
Disaster Recovery and Continuity Planning after 9/11	189	(24)
Business Continuity Planning and the New Language of Recovery Planning	190	(4)
Continuity Planning and Service-Level Agreements	194	(1)
New Technologies: Critical Data Mirroring Techniques	195	(2)
Establishing Effective Contingency Policies: What Are We Protecting?	197	(1)
Building the Disaster Planning Business Continuity Plan	198	(8)
Testing, Maintaining, and Auditing the Continuity Plan	206	(5)
Continuity Planning Going Forward	211	(2)
Internal Audit Fraud Detection and Prevention	213	(18)
Red Flags: Fraud Detection for Auditors	214	(6)
Public Accounting's New Role in Fraud Detection	220	(3)
IIA Standards for Detecting and Investigating Fraud	223	(2)
Fraud Investigations for Internal Auditors	225	(1)
Information Systems Fraud Prevention Processes	226	(5)
Enterprise Risk Management, Privacy, and Other Legislative Initiatives	231	(26)
Enterprise Risk Management	231	(12)
Concurrent with SOA: Other Legislation Impacting Internal Auditors	243	(14)
Rules and Procedures for Internal Auditors Worldwide	257	(36)
SOA International Requirements	258	(1)
International Accounting and Auditing Standards	259	(8)
COSO Worldwide: International Internal Control Frameworks	267	(5)
ISO and the Standards Registration Process	272	(7)
ITIL Service Support and Service Delivery Best Practices	279	(14)
Continuous Assurance Auditing Future Directions	293	(20)
Implementing Continuous Assurance Auditing	294	(8)
Internet-Based Extensible Mark-Up Languages: XBRL	302	(4)
Data Warehouses, Data Mining, and OLAP	306	(5)
Newer Technologies, the Continuous Close, and SOA	311	(2)
Summary: Internal Auditing Going Forward	313	(4)
Future Prospects for Internal Auditors	313	(4)
Glossary	317	(4)
Index	321