Sarbanes-Oxley and the New Internal Auditing Rules

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!

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

About the Author :
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.