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In May of 2003, CIO Magazine published 48 questions that
Cap Gemini Ernst & Young said its auditors will ask CIOs
in order to measure their companies' compliance with the Sarbanes-Oxley Act.
Below are just a few of the questions from the list, which still seems quite relevant. Will you be ready to answer them?
Read all the questions
5. Do the reporting systems trace back to
the general ledgers?
8. Are tax reporting systems integrated with
the company's consolidation system?
9. Are consolidation and reporting activities performed
on spreadsheets?
14. Are reporting activities performed on spreadsheets?
15. How often is control documentation updated for new
changes to the
internal controls (
transactional and financial statement)?
36. Are documents backed up periodically
to ensure significant reports
and information
are maintained?
37. Does the company have a retention policy
for electronic information?
43. How many different systems are involved in
the financial statement
development process?
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Read
SOX-online's Section 404
Preparation Checklist
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