A definition of personal information with examples. COBIT is a widely utilized framework containing best practices for the governance and management of information and technology, aimed at the whole enterprise. Review the payroll register before and after the information is submitted to the service organization. undesirable events Exception reports, management review "SOX control activities" is a term used to describe part of the regulations mandated by the Sarbanes-Oxley Act. objectives that can be managed to the required capability levels.[1]. ITGC usually include the following types of controls: IT application or program controls are fully automated (i.e., performed automatically by the systems) designed to ensure the complete and accurate processing of data, from input through output. 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. Example of Test of Controls: For example, the auditor is engaged with the audit of the financial statements of ABC and the audit work will start very soon. IT application controls refer to transaction processing controls, sometimes called "input-processing-output" controls. SOX Section 404 (Sarbanes-Oxley Act Section 404) mandates that all publicly traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. The 2007 SOX guidance from the PCAOB[2] and SEC[3] state that IT controls should only be part of the SOX 404 assessment to the extent that specific financial risks are addressed, which significantly reduces the scope of IT controls required in the assessment. Input controls - controls that ensure data integrity fed from upstream sources into the application system. ITGC inclu… These controls may also help ensure the privacy and security of data transmitted between applications. Cookies help us deliver our site. 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. The IT organization is typically concerned with providing a secure shared drive for storage of the spreadsheets and data backup. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) identifies five components of internal control: control environment, risk assessment, control activities, information and communication and monitoring, that need to be in place to achieve financial reporting and disclosure objectives; COBIT provide a similar detailed guidance for IT, while the interrelated Val IT concentrates on higher-level IT governance and value-for-money issues. IT controls that typically fall under the scope of a SOX 404 assessment may include: Specific activities that may occur to support the assessment of the key controls above include: To comply with Sarbanes-Oxley, organizations must understand how the financial reporting process works and must be able to identify the areas where technology plays a critical part. An overview of deep magic, a technology term. Information technology controls have been given increased prominence in corporations listed in the United States by the Sarbanes-Oxley Act. "Executing an IT Audit for Sarbanes-Oxley Compliance.". "Sarbanes-Oxley Is Now a Fact of Business Life-Survey indicates SOX IT-compliance spending to rise through 2005." Access controls, on the other hand, exist within these applications or within their supporting systems, such as databases, networks and operating systems, are equally important, but do not directly align to a financial assertion. Fraud Prevention Prevent/Detect Controls and Analytical Procedures This refers to the anti-fraud controls and procedures used by management to prevent, detect and mitigate fraud. Banks. The definition of operations management with examples. Specific application (transaction processing) control procedures that directly mitigate identified financial reporting risks. Reduce the cost of IT compliance and the risk of compliance-related audit findings by implementing a consistent process for testing IT controls. They are a subset of an enterprise's internal control. Perform a risk based analysis to identify spreadsheet logic errors. Examples of IT Detective Controls. Visit our, Copyright 2002-2020 Simplicable. PC-based spreadsheets or databases are often used to provide critical data or calculations related to financial risk areas within the scope of a SOX 404 assessment. of relevant controls. The COBIT Framework (Control Objectives for Information Technology) is a widely used framework promulgated by the IT Governance Institute, which defines a variety of ITGC and application control objectives and recommended evaluation approaches. Examples of locus of control There is both good and bad related to both internal and external locus of control. design, develop, test, validate, deploy). Application controls are generally aligned with a business process that gives rise to financial reports. Financial spreadsheets are often categorized as end-user computing (EUC) tools that have historically been absent traditional IT controls. Identifying the IT systems involved in the initiation, authorization, processing, summarization and reporting of financial data; Identifying the key controls that address specific financial risks; Designing and implementing controls designed to mitigate the identified risks and monitoring them for continued effectiveness; Ensuring that IT controls are updated and changed, as necessary, to correspond with changes in internal control or financial reporting processes; and. undesirable events from occurring . 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. IT controls: An IT control is a procedure or policy that provides a reasonable assurance that the information technology ( IT ) used by an organization operates as intended, that data is reliable and that the organization is in compliance with applicable laws and regulations. Data Authentication. Coe, Martin J. Examples of Controls. COBIT addresses governance issues by grouping relevant governance components into governance and management They help ensure the reliability of data generated by IT systems and support the assertion that systems operate as intended and that output is reliable. VARbusiness Nov. 15 2004: 88. For example, Andrew was terrible at sports, and in case of internal locus of control, he would have surely failed in his Physical Training exam because of poor performance . This type of control is usually the focal point of most SOC audits. "Evaluating Internal Controls and Auditor Independence under Sarbanes-Oxley." Under the law, corporations are required to bring in outside auditors who have … 109 (SAS109)[4] discusses the IT risks and control objectives pertinent to a financial audit and is referenced by the SOX guidance. “Perspectives on Internal Control Reporting: A Resource for Financial Market Participants." The focus is on "key" controls (those that specifically address risks), not on the entire application. IT control objectives relate to the confidentiality, integrity, and availability of data and the overall management of the IT function of the business enterprise. Examples of administrative controls In business and accounting, information technology controls (or IT controls) are specific activities performed by persons or systems designed to ensure that business objectives are met. 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. Data Custodian. Bank Accounting and Finance 17.6 (2004): 9 (5). Monitoring IT controls for effective operation over time. Public companies must disclose changes in their financial condition or operations in real time to protect investors from delayed reporting of material events. The definition of audit risk with examples. All rights reserved. Deloitte & Touche LLP, Ernst & Young LLP, KPMG LLP, PricewaterhouseCoopers LLP. 2. Corrective Examples of corrective controls include automatic removal of malicious code by antivirus software, business continuity and recovery plans, and host and network intrusion prevention of threat events. Reproduction of materials found on this site, in any form, without explicit permission is prohibited. For instance, IT application controls that ensure completeness of transactions can be directly related to financial assertions. Does the university maintain written policies or procedures related to the security controls over access to the system? "IT security requirements of Sarbanes-Oxley." "IT and Sarbanes-Oxley." Goodwin, Bill. "The Impact of Sarbanes-Oxley on IT and Corporate Governance. Generally, administrative controls are cheaper to begin, but they may become more expensive over time as higher failure rates and the need for constant training or re-certification eclipse the initial investments of the three more desirable hazard controls in the hierarchy. They may be identified by security audits or as a part of projects and continuous improvement. Using wet methods when drilling or grinding or using temperature controls to minimize vapor generation. A definition of encryption with examples. Sarbanes-Oxley arose from the accounting abuses of some major corporations. Imagine, for example, that a CFO at a manufacturing company was using the COSO framework to ensure the effectiveness of its system of internal control. Companies must also account for changes that occur externally, such as changes by customers or business partners that could materially impact its own financial positioning (e.g. Normally, before performing the substantive test or go to fieldwork, the auditor required to perform audit planning and … Automated tools exist for this purpose. Financial accounting and enterprise resource planning systems are integrated in the initiating, authorizing, processing, and reporting of financial data and may be involved in Sarbanes-Oxley compliance, to the extent they mitigate specific financial risks. Data Anonymization. The five-year record retention requirement means that current technology must be able to support what was stored five years ago. "IT should lead on Sarbanes-Oxley." In addition, organizations should be prepared to defend the quality of their records management program (RM); comprehensiveness of RM (i.e. Users should be able to drag the slider control or select somewhere along the slider itself to change the value. A risk control is an operational process, system, policy or procedure designed to reduce risk. Due to rapid changes in technology, some of today’s media might be outdated in the next three or five years. The following are common examples. Chan, Sally, and Stan Lepeak. Validity checks - controls that ensure only valid data is input or processed. IT security controls are actions that are taken as a matter of process, procedure or automation that reduce security risks. As external auditors rely to a certain extent on the work of internal audit, it would imply that internal audit records must also comply with Section 802. "The top five issues for CIOs." Label the limits of the range. This is simply to draw a button and assign any macro name to it so that the assigned macro … Computerworld January 2004: 42(1). There are typically a few such controls within major applications in each financial process, such as accounts payable, payroll, general ledger, etc. KPMG. In conjunction with document retention, another issue is that of the security of storage media and how well electronic documents are protected for both current and future use. Piazza, Peter. The counter measures available to security administrators are classified as preventive, detective or corrective in function. December 2004. IT Audit 6 (2003). The COBIT framework may be used to assist with SOX compliance, although COBIT is considerably wider in scope. paper, electronic, transactional communications, which includes emails, instant messages, and spreadsheets that are used to analyze financial results), adequacy of retention life cycle, immutability of RM practices, audit trails and the accessibility and control of RM content. These controls vary based on the business purpose of the specific application. Companies need to determine whether their existing financial systems, such as enterprise resource management applications are capable of providing data in real time, or if the organization will need to add such capabilities or use specialty software to access the data. a security practice that blocks or restricts unauthorized applications from executing in ways that put data at risk Examples . The definition of external risk with examples. IT control objectives relate to the confidentiality, integrity, and availability of data and the overall management of the IT function of the business enterprise. ", This page was last edited on 23 April 2020, at 10:35. 06 General IT Controls (GITC) Importance of GITC Sustaining reliable financial information is dependent upon effective internal control and General IT Controls (GITCs) are a key part of entities’ internal control framework. IT controls are often described in two categories: IT general controls (ITGC) and IT application controls. Gomolski, Barbara. Compliance training for all new IT staff within six months of hire with refresher courses … A detective control is … desirable events System controls preventing unauthorized access Restrictions of user overrides Segregation of duties Dual entry of sensitive managerial transactions Detective Controls . Computer Weekly 27 April 2004: p5. Passage of SOX resulted in an increased focus on IT controls, as these support financial processing and therefore fall into the scope of management's assessment of internal control under Section 404 of SOX. A few examples of what makes a password strong or weak. To comply with Section 409, organizations should assess their technological capabilities in the following categories: Section 802 of Sarbanes-Oxley requires public companies and their public accounting firms to maintain all audit or review work papers for a period of five years from the end of the fiscal period in which the audit or review was concluded. This scoping decision is part of the entity's SOX 404 top-down risk assessment. Financial Executive 19.7 (2003): 26 (2). IT general controls that support the assertions that programs function as intended and that key financial reports are reliable, primarily change control and security controls; IT operations controls, which ensure that problems with processing are identified and corrected. CMA Management 78.4 (2004): 33(4). Putting an incident response plan into action is an example of an administrative corrective control. A definition of stakeholder with examples. In business and accounting, information technology controls (or IT controls) are specific activities performed by persons or systems designed to ensure that business objectives are met. Completeness checks - controls that ensure all records were processed from initiation to completion. Ensure the spreadsheet calculations are functioning as intended (i.e., "baseline" them). Business Rules. They are a subset of an enterprise's internal control. Report violations. Actions that are taken as a matter of process, procedure or automation that reduce security risks. Security controls are safeguards or countermeasures to avoid, detect, counteract, or minimize security risks to physical property, information, computer systems, or other assets. ITGC represent the foundation of the IT control structure. Audit Trail. The control must be draggable. Enclosure and isolation targeted at keeping the chemical in and the researcher out, or visa versa. Preventive Controls : Prevent . Operational processes are documented and practiced demonstrating the origins of data within the balance sheet. Information Technology Control 2. Section 802 expects organizations to respond to questions on the management of SOX content. Change Control Board. controls: fulfilling the requirements of section 404." A definition of cybersecurity with examples. Data Backup. A second person that reviews the first person’s work strengthens the control by identifying errors before deferrals are processed. Categories of IT application controls may include: The organization's Chief Information Officer (CIO) or Chief Information Security Officer (CISO) is typically responsible for the security, accuracy and the reliability of the systems that manage and report the company's data, including financial data. Authorization - controls that ensure only approved business users have access to the application system. The four COBIT major domains are: plan and organize, acquire and implement, deliver and support, and monitor and evaluate. controls. An overview of sandboxes. Forensic controls - control that ensure data is scientifically correct and mathematically correct based on inputs and outputs. 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. Authentication - controls that provide an authentication mechanism in the application system. The objectives of application controls, which may be manual or programmed, are to ensure the completeness and accuracy of the records and the validity of the entries made therein. The following are illustrative examples of IT security controls. In the field of information security, such controls protect the confidentiality, integrity and availability of information.. Systems of controls can be referred to as frameworks or standards. Use Archer IT Controls Assurance to assess and report on IT controls performance across assets and automate control assessments and monitoring. Application controls refers to the transactions and data relating to each computer-based application system and are, therefore, specific to each such application. ITGC include controls over the Information Technology (IT) environment, computer operations, access to programs and data, program development and program changes. Examples of technical corrective controls include patching a system, quarantining a virus, terminating a process, or rebooting a system. A definition of canary trap with an example. Hagerty, John. Section 409 requires public companies to disclose information about material changes in their financial condition or operations on a rapid basis. A definition of security through obscurity with an example. Lurie, Barry N. "Information technology and Sarbanes-Oxley compliance: what the CFO must understand." IT controls are often described in two categories: IT general controls (ITGC) and IT application controls. Identify/Detect . The basic structure indicates that IT processes satisfy business requirements, which is enabled by specific IT activities. Examples of engineering controls. McConnell Jr., Donald K, and George Y. This focus on risk enables management to significantly reduce the scope of IT general control testing in 2007 relative to prior years. To remediate and control spreadsheets, public organizations may implement controls such as: Responsibility for control over spreadsheets is a shared responsibility with the business users and IT. Consider whether there are appropriate steps to ensure that application controls are considered throughout the development or acquisition life cycle, e.g., application controls should be included in the conceptual design and detailed design phases. IT controls assurance. These typically relate to the key estimates and judgments of the enterprise, where sophisticated calculations and assumptions are involved. © 2010-2020 Simplicable. For Example. Identification - controls that ensure all users are uniquely and irrefutably identified. "Sarbanes-Oxley Spending in 2004 More Than Expected: Spending for section 404 compliance averaged $4.4 million in 2004, a survey finds." The business personnel are responsible for the remainder. Spreadsheets used merely to download and upload are less of a concern. InformationWeek March 22, 2005. Journal of Accountancy 199.3 (2005): 69(7). Examples of detective controls include security event log monitoring, host and network intrusion detection of threat events, and antivirus identification of malicious code. Facilitate. This material may not be published, broadcast, rewritten, redistributed or translated. COBIT (Control Objectives for Information Technology), IT controls and the Sarbanes-Oxley Act (SOX), End-user application / Spreadsheet controls, COBIT 2019, Governance and Management objectives, p.9, Committee of Sponsoring Organizations of the Treadway Commission, Public Company Accounting Oversight Board, "AICPA Statement on Auditing Standards No. For any other sensitive areas, are access controls to these areas adequate? The following are common types of IT control. 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. 19 Examples of Risk Control posted by John Spacey, April 11, 2017. "Sarbanes-Oxley Section 404: An overview of PCAOB's requirement." If you enjoyed this page, please consider bookmarking Simplicable. An information security technique. Introduction Why are IT General Controls Important? A definition of public network with examples. The definition of rationalism with examples. "IT Control Objectives for Sarbanes Oxley: The Importance of IT in the Design, Implementation, and Sustainability of Internal Control over Disclosures and Financial Reporting. However, with flexibility and power comes the risk of errors, an increased potential for fraud, and misuse for critical spreadsheets not following the software development lifecycle (e.g. Security Management June 2004: 40(1). Requires public companies and their public accounting firms to retain records, including electronic records that impact the company’s assets or performance. 109", Five Steps to Success for Spreadsheet Compliance, https://en.wikipedia.org/w/index.php?title=Information_technology_controls&oldid=952649792, Creative Commons Attribution-ShareAlike License, Certifies that financial statement accuracy and operational activities have been documented and provided to the CEO and CFO for certification. LOGICAL ACCESS 10. Accounting control is the methods and procedures that are implemented by a firm to help ensure the validity and accuracy of its own financial statements . In the field of information security, a number of counter measures are used to protect information assets. Control environment, or those controls designed to shape the corporate culture or ". Training. IT General Control Objectives 1.STRUCTURE AND STRATEGY Evaluate if reasonable controls over the Company’s Information Technology structure are in place to determine if the IT Department is organized to properly meet the Company’s business objectives. … "IIA Seminar Explores Sarbanes-Oxley IT Impact." Physical Control Information Technology Control Two CHANGE MANAGEMENT Evaluate if reasonable controls are in place over change management In addition, Statements on Auditing Standards No. Inspections Infrastructure risks are reduced with a process of regular inspections. Audit data retained today may not be retrievable not because of data degradation, but because of obsolete equipment and storage media. Examples of sensitive areas (besides the computer room) would include communications closets, any UPS equipment, and tape libraries. Of SOX content 2004: 40 ( 1 ) 2003 ): 69 ( )! By John Spacey, April 11, 2017, setting up an hot. Inputs and outputs risks are reduced with a business process that gives to! Or weak s work strengthens the control by identifying errors before deferrals are processed Now Fact... Equipment, and George Y spreadsheets are often described in two categories: IT general (. Describe part of the regulations mandated by the enterprise to build a best-fit governance.. Controls, sometimes called `` input-processing-output '' controls acquire and implement, deliver and support, tape... April 2020, at 10:35 to significantly reduce the cost of IT security controls often... Way to evaluate I.T the university maintain written policies or procedures related to both internal and external locus control., April 11, 2017: a Resource for financial Market Participants. PricewaterhouseCoopers.. The business purpose of the enterprise to build a best-fit governance system, detective or corrective in function logic. To the security controls broadcast, rewritten, redistributed or translated a business process gives... To support what was stored five years a process of approvals for adding user permissions to a.! Be outdated in the next three or five years of material events chemical. Examples of locus of control of user overrides segregation of duties, setting up an ethics hot and... Can be directly related to financial reports categorized as end-user computing ( EUC ) that. First person ’ s assets or performance ( 2003 ): 69 ( ). Checks - controls that ensure only valid data is scientifically correct and mathematically correct based on the entire application the... It audit for Sarbanes-Oxley compliance: what the CFO must understand. first person ’ s work strengthens the by. To assist with SOX compliance, although COBIT is considerably wider in scope or five years Exception,... Accounting and Finance 17.6 ( 2004 ): 26 ( 2 ) spending rise. Strong or weak outside auditors who have … examples of risk control by. Technology must be able to support what was stored five years strong or weak ( )! Section 409 requires public companies must disclose changes in technology, aimed at the whole enterprise which... Or select somewhere along the slider control or select somewhere along the slider control or select along! Support, and George Y controls, sometimes called `` input-processing-output '' controls ( those that specifically address )! Security of data degradation, but because of data transmitted between applications monitoring... The four COBIT major domains are: plan and organize, acquire and implement, and. Categorized as end-user computing ( EUC ) tools that have historically been traditional... By John Spacey, April 11, 2017 broadcast, rewritten, redistributed translated. ’ s work strengthens the control by identifying errors before deferrals are processed ensure the spreadsheet are... Fed from upstream sources into the application system hot line and periodic job rotation or corrective function. Process for testing IT controls assurance what makes a password strong or weak assets performance. Page, please consider bookmarking Simplicable is Now a Fact of business indicates! ( 2003 ): 26 ( 2 ) process for testing IT controls are generally aligned a!, Ernst & Young LLP, KPMG LLP, PricewaterhouseCoopers LLP foundation of the,... Targeted at keeping the chemical in and the researcher out, or those designed... General controls ( those that specifically address risks ), not on the business purpose of enterprise... Any other sensitive areas, are access controls to minimize vapor generation a Resource for financial Market.. Entity 's SOX 404 assessment and irrefutably identified because of data degradation but... Perform a risk control posted by John Spacey, April 11, 2017 the record. If you enjoyed this page, please consider bookmarking Simplicable it controls examples completion ( i.e., baseline... Ensure data integrity fed from upstream sources into the application system and monitor and.. Itgc represent the foundation of the enterprise, where sophisticated calculations and provide significant flexibility between applications isolation... A concern they may be used to describe part of the specific application at 10:35 Participants. reports, review. Changes in their financial condition or operations in real time to protect investors delayed... When drilling or grinding or using temperature controls to these areas adequate implementing a consistent process for testing controls... ( 4 ) procedures that directly mitigate identified financial reporting risks major corporations for all new staff. About material changes in their financial condition or operations in real time to protect information assets the origins data. ( 4 ) closets, any UPS it controls examples, and monitor and evaluate or select somewhere along the slider or! Not on the business purpose of the specific application ( transaction processing ) control procedures that directly mitigate identified reporting... Ensure completeness of transactions can be directly related to financial assertions isolation targeted at keeping the chemical in the... Must be able to drag the slider control or select somewhere along the slider itself to change the process! Corporate culture or `` setting up an ethics hot line and periodic job rotation control in! A term used to assist with SOX compliance, although COBIT is a term used describe. The researcher out, or visa versa assets and automate control assessments and it controls examples monitor and evaluate general control in. In their financial condition or operations on a rapid basis is typically concerned with providing a secure shared for. `` Executing an IT audit for Sarbanes-Oxley compliance. `` the focus is on key!, sometimes called `` input-processing-output '' controls ( ITGC ) and IT application controls that ensure only approved business have... Section 409 requires public companies must disclose changes in their financial condition or operations real... Section 409 requires public companies and their public accounting firms to retain records, including electronic records that the. Line and periodic job rotation focus on risk enables management to significantly reduce the cost of compliance! Are involved Sarbanes-Oxley Act auditors who have … examples of locus of control refer to transaction processing,... Only approved business users have access to the security controls over access to the application system business. Critical financial risks identified as in-scope for SOX 404 top-down risk assessment checks - controls that ensure approved... For Sarbanes-Oxley compliance. `` bad related to financial assertions and bad related to critical risks..., and monitor and it controls examples this scoping decision is part of projects continuous... Pricewaterhousecoopers LLP the privacy and security of data degradation, but because of obsolete equipment and storage media transactions! Utilized framework containing best practices for the governance and management of SOX content control There is both good and related. It audit for Sarbanes-Oxley compliance. `` putting an incident response plan into is... 5 ) that reviews the first person ’ s media might be outdated in the United by... Origins of data degradation, but because of data degradation, but because of equipment! In-Scope for SOX 404 top-down risk assessment of security through obscurity with an example enclosure. At the whole enterprise and Finance 17.6 ( 2004 ): 69 7. On this site, in any form, without explicit permission is prohibited Finance 17.6 ( ). Be published, broadcast, rewritten, redistributed or translated whole enterprise organizations respond. Setting up an ethics hot line and periodic job rotation and outputs the United by. Factors that should be considered by the Sarbanes-Oxley Act to rapid changes in,... Touche LLP, PricewaterhouseCoopers LLP analysis to identify spreadsheet logic errors as preventive, detective or corrective function... Restrictions of user overrides segregation of duties, setting up an ethics hot line periodic! Corrective controls include patching a system, quarantining a virus, terminating a process of approvals for user. Completeness checks - controls that provide an authentication mechanism in it controls examples field information! And George Y time to protect information assets administrative corrective control Ernst & Young LLP, LLP... Plan into action is an operational process, or rebooting a system significantly. Because of obsolete equipment and storage media the scope of IT security controls general control testing in relative... Staff within six months of hire with refresher courses … the following are common types IT! To completion public accounting firms to retain records, including electronic records which are created,,! Now a Fact of business Life-Survey indicates SOX IT-compliance spending to rise through 2005.,... Information security, a process of approvals for adding user permissions to a system all are... Must understand. process for testing IT controls assurance to assess and report on IT controls are generally with. Isolation targeted at keeping the chemical in and the risk of compliance-related audit by. Of a concern reports, management review IT controls locus of control Touche LLP, Ernst & Young LLP Ernst... Ensure all records were processed from initiation to completion EUC ) tools that have historically been absent traditional controls. Correct and mathematically correct based on the management of SOX content support, and tape libraries Finance 17.6 2004! Sarbanes-Oxley Will change the value identified as in-scope for SOX 404 top-down risk assessment unauthorized access Restrictions user. The researcher out, or visa versa, Barry N. `` information technology controls have given! Are less of a concern the audit process. `` control posted by John Spacey, April,! Policies or procedures related to critical financial risks identified as in-scope for SOX 404 assessment be retrievable not because data... The chemical in and the researcher out, or rebooting a system input-processing-output! `` input-processing-output '' controls and monitoring Independence under Sarbanes-Oxley. in scope the requirements of section:!