IT Governance, Risk, and Compliance:

Laws and Regulations


July 1, 2013  2:02 AM

Government-Audit Convergence Part VII



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Technology deployment and associated management information systems can provide a competitive advantage as well as increased control requirements. Legal noncompliance risks are an irrefutable fact, where consequences range from significant financial penalties to the threat of damage to an...

June 28, 2013  6:10 AM

Government-Audit Convergence Part VI



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

The most common audit practice laws and regulations influences are evidence collection and perseverance. Where legal compliance audits are decreed, if an illegal act is suspected, IT auditors must ensure evidential legal mandates are satisfied in order to successfully provide authorities with...


June 23, 2013  10:47 PM

Government-Audit Convergence Part V



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Accountability is responsibility for performance against agreed-upon expectations either stated and/or implied.  Professionally, an IT auditor should exercise due caution from disclosing information acquired in the course of an engagement to any person other than the entity’s dually  appointed...


June 21, 2013  5:02 PM

Government-Audit Convergence Part IV



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Regarding laws and regulations, when professional standards are applied to compliance engagements, an IT auditor has the right to believe that management has established appropriate controls to prevent, deter and detect illegal acts, unless tests and evaluations carried on by an IT auditor prove...


June 17, 2013  1:31 AM

Government-Audit Convergence Part III



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Professional prudence dictates legal mandates impacting IT-IAP audit practice areas should be thoroughly understood by audit team members prior to proceeding with fieldwork. Specifically, IT auditors “should review compliance with applicable statutory laws, regulations as well as contracts and,...


June 15, 2013  5:19 PM

Government-Audit Convergence Part II



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Government sponsored laws and regulations can influence auditor conduct and impose IT audit practice requirements.  Therefore, applying ISACA’s Professional Ethics and Standards, an IT auditor “should maintain the highest degree of integrity and...


June 10, 2013  2:30 AM

Government-Audit Convergence Part I



Posted by: Robert Davis
Accountability, Administrative Control, Audit Oversight Committee, Compliance Management, Control Evaluation, Due Care, Due Diligence, Fiduciary Responsibility, Framework, Governance, Government Agencies, Illegal Acts, Information Assets Protection, Laws and Regulations, Management, Safeguarding

Generally, audit has a responsibility for ensuring that (1) independence and objectivity are maintained in all phases of assignments, (2) professional judgment is utilized in planning approaches, performing procedures, and reporting results of engagements, (3) work is conducted by personnel who are...


June 22, 2009  8:41 PM

Application Protection – Part IV



Posted by: Robert Davis
Accounting, Applications, COE, Council of Europe, FCPA, Financial, Foreign Corrupt Practices Act, Information Technology, IT, Laws and Regulations, OAS, OECD, Organisation for Economic Co-operation and Development, Organization of American States, Sarbanes Oxley Act, SOX

The FCPA impacts IT control requirements of U.S. publicly held enterprises. Section 78m (b), in particular, documents the legislative rules and compliance requirements of internal control evaluation reporting with regard to management's assessment of internal controls. Section 78m (b) (2) through...


June 19, 2009  1:09 PM

Application Protection – Part III



Posted by: Robert Davis
Accounting, Applications, COE, Council of Europe, FCPA, Financial, Foreign Corrupt Practices Act, Information Technology, IT, Laws and Regulations, OAS, OECD, Organisation for Economic Co-operation and Development, Organization of American States, Sarbanes Oxley Act, SOX

FCPA control measures for an adequate system of internal accounting controls include maintaining appropriate segregation of duties, allowing only authorized transaction execution, controlling access to assets, and reconciling documented assets to actual assets regularly. Completeness, accuracy,...


June 16, 2009  7:06 PM

Application Protection – Part II



Posted by: Robert Davis
Accounting, Applications, COE, Council of Europe, FCPA, Financial, Foreign Corrupt Practices Act, Information Technology, IT, Laws and Regulations, OAS, OECD, Organisation for Economic Co-operation and Development, Organization of American States, Sarbanes Oxley Act, SOX

The FCPA codifies bribery of foreign officials as a criminal offense for U.S. publicly held companies, requires accurate financial-transactions accounting, and amends the Securities Exchange Act of 1934....


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