Sarbanes-Oxley Internal Controls : Effective Auditing with AS5, CobiT, and ITIL

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2008-04-25
  • Publisher: Wiley

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Supplemental Materials

What is included with this book?


This book examines Sarbanes-Oxley and the new internal control?rules for auditors, including AS 2, COBIT, and ITIL. It looks at Sarbanes-Oxley with an emphasis on the newer rules governing SOX and the roles of the SEC and PCAOB in these processes. The prior edition looked at SOX in its infancy; this edition will examine SOX as a fact of life in corporate America.

Author Biography

Robert R. Moeller, CPA, CISA, CISSP, is an internal audit specialist and project manager with a strong understanding of information systems, corporate governance, and security. He has over twenty-five years of experience in internal auditing, ranging from launching new internal audit functions in several companies to serving as audit director for a Fortune 50 corporation. He was the national director of computer auditing at Grant Thorton and the audit director of Sears Roebuck. A frequently published author and professional speaker, he provides insights 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

Prefacep. xi
Introduction: Sarbanes-Oxley and Establishing Effective Internal Controlsp. 1
Changes Since SOx Was First Introducedp. 3
Converging Trends: ITIL, CobiT, and Othersp. 7
Sarbanes-Oxley Act Today: Changing Perspectivesp. 13
Sarbanes-Oxley Act: Key Elementsp. 14
Impact of the Sarbanes-Oxley Actp. 51
AS5 Standards for Auditing Internal Controlsp. 53
AS5 Objectivesp. 54
Reviewing Section 404 Internal Controls Under AS5: Introductionp. 57
Planning the SOx AS5 Auditp. 59
AS5's Top-Down Approachp. 66
Testing Internal Controlsp. 72
Evaluating Identified Audit Deficienciesp. 75
Wrapping Up the AS5 Auditp. 76
Reporting on AS5 Audit Internal Controlsp. 78
Improving Internal Controls Using AS5 Guidancep. 79
Going Forward: Potential Risks and Rewardsp. 80
Establishing Internal Controls Through COSOp. 83
Importance of Effective Internal Controlsp. 84
Internal Control Standards: Backgroundp. 86
Events Leading to the Treadway Commissionp. 90
COSO Internal Control Frameworkp. 94
Other Dimensions of the COSO Internal Control Frameworkp. 116
Using CobiT Framework to Improve SOx Controls and Governancep. 119
CobiT Frameworkp. 122
Using CobiT to Assess Internal Controlsp. 127
CobiT and Sarbanes-Oxleyp. 141
Performing Section 404 Reviews Under AS5: An Ongoing Processp. 149
SOx Section 404 Assessments of Internal Controls Todayp. 150
SOx Section 404 Requirementsp. 152
Section 404 Filing Rules: Changing Deadlines for Eligibilityp. 168
Gaps and Compliance Committees Under Today's SOx Rulesp. 173
Documenting Internal Controls Going Forwardp. 178
Control Objectives and Risks Under Section 404p. 180
Other SOx Requirements: Sections 302, 409, and Othersp. 183
Other Important SOx Compliance Rulesp. 184
Section 302: Management's Financial Report Responsibilitiesp. 184
Section 401: Off-Balance Sheet Disclosuresp. 188
Section 409: Disclosures on Financial Conditions and Operationsp. 190
Section 802: Penalties for Altering Documentsp. 192
Section 806: Whistleblower Provisionsp. 193
Keeping SOx Rules in Focusp. 201
Using ITIL to Align IT with Business Processesp. 203
Importance of the Information Technology Infrastructurep. 204
ITIL Frameworkp. 206
ITIL Service Delivery Best Practicesp. 208
ITIL Service Support Best Practicesp. 221
Security Managementp. 237
Linking ITIL with CobiT and SOx Internal Controlsp. 239
Importance of Enterprise Risk Managementp. 241
Importance of Risk Managementp. 243
COSO ERM Frameworkp. 247
Other Dimensions of the COSO ERM Frameworkp. 270
Putting It All Togetherp. 280
Auditing COSO ERM Processesp. 281
COSO ERM in Perspectivep. 282
International Standards: ISO, Quality Auditing, and SOxp. 285
Importance of ISO Standards in Today's Global Worldp. 286
ISO Standards Overviewp. 289
Quality Audit Processp. 301
IFAC International Accounting Standardsp. 310
Internal Audit in a Sarbanes-Oxley Environmentp. 315
Profession of Internal Auditingp. 316
Internal Audit Professional Standardsp. 322
CBOK: Internal Audit's Common Body of Knowledgep. 341
Importance of Effective Corporate Governancep. 351
Reporting Whistleblower Incidents: Establishing a Hotline Facilityp. 352
Building an Enterprise-Wide Ethical Culturep. 356
Chief Compliance Officer Roles and Responsibilitiesp. 361
Board of Directors and the Audit Committeep. 364
Assessing SOx Internal Controlsp. 366
Indexp. 369
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