RISKWATCH DEBUTS SARBANES-OXLEY SELF-ASSESSMENT SOFTWARE.RiskWatch, Inc. has debuted a new version of their RiskWatch for Information Systems software that includes the Sarbanes- Oxley Act self-assessment compliance surveys and reports. The new version of RiskWatch for Information Systems and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 17799 includes the full set of SOX Section 404 guidance and requirements for organizations who are required to comply with Sarbanes-Oxley (SOX) requirements. Section 404 of the Sarbanes-Oxley Act See SOX. focuses heavily on the critical role of internal controls over financial reporting, re-emphasizing the importance of ethical conduct and reliable information in the preparation of financial information reported to investors. "Using the RiskWatch software to do self-assessments prior to auditors coming in for full audits lessens the burden on smaller firms because it not only makes them more familiar with the Section 404 provisions, but it allows them to self-assess and then correct any identified deficiencies before their formal audit," said Gary Swindon, a management expert and member of the ISACA (Information Systems Audit and Control Association, Rolling Meadows, IL, www.isaca.org) A membership association dedicated to information systems auditing and security. Founded as the EDP Auditors Association in 1969, ISACA provides certification in auditing and security (see CISA and CISM). CISM (Certified Information Security Manager) The award for successful completion of an examination in information security management from the Information Security Audit and Control Association. See ISACA. (Certified Information Security Manager Certified Information Security Manager (CISM) is a designation awarded by the Information Systems Audit and Control Association to individuals who pass a written examination and have at least five years of information security experience with a minimum three years of ) Board of Directors. SOX compliance has been especially difficult for small companies, and they have been given extra time to comply and file their accounts; the SEC is trying to be sensitive to the impact on smaller companies. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent article in The Economist, "The auditors emphasize that a good deal of the cost arises from a one-off learning process involved in first adopting the act's requirements." Nearly half of all small companies feel that Sarbanes-Oxley (SOX) regulation has made it harder for them to successfully conduct business, according to a recent study commissioned by SAP America, Inc., a subsidiary of SAP AG. The study, which comes on the heels of a decision by the U.S. Securities and Exchange Commission (SEC) to delay compliance requirements for small businesses by one year, brings to light the opinions and difficulties faced by small business decision-makers managing SOX-related processes at public and private small businesses nationwide. RiskWatch is the top-rated provider of innovative security risk assessment and compliance software that automates the risk management process. RiskWatch clients include ISS ISS See Institutional Shareholder Services (ISS). , IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Metris, U.S. Federal Agencies, Carolina First, Keystone Bank, Pfizer, Abbott Labs, Constellation Energy, Baptist Hospitals and many more. RiskWatch can be found on the World Wide Web at http://www.riskwatch.com/. For more information, call 410/224-4773, x105. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion