What do ISACA members need to know and know how to do?
Sarbanes-Oxley makes corporate executives explicitly responsible for establishing, evaluating and monitoring the effectiveness of internal control over financial reporting. For most organizations, the role of information technology will be crucial to achieving this objective. Whether through a unified enterprise resource planning system or a disparate collection of operational and financial management software applications, IT is the foundation of an effective system of internal control over financial reporting. Therefore, ISACA members must be expert in establishing, maintaining and monitoring an effective system of internal control. With the passing of the Act and subsequent interpretations and discussions of the Act by the Public Company Accounting Oversight Board (PCAOB), the Internal Control—Integrated Framework by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) is becoming the de facto international control framework for financial reporting. Additional
