IT Documentation for Sarbanes Oxley Section 404 Compliance
The Client
A large investment advisory and asset management company with equity investments in a diverse group of mid-sized investment management and investment advisor firms.
The Challenge
The client required a favorable evaluation of their internal control procedures over new systems and processes in order to comply with Sarbanes-Oxley 404. In preparation for management certification of the internal control over financial reporting, the firm retained HighQuest to define the new internal controls and control procedures. It was also necessary to demonstrate that the informal IT control procedures had been adhered to and were effective. In addition, the client needed to ensure that the documentation was thorough and prepared in a manner that would be complete and meaningful to our client’s outside auditors performing the controls assessment.
The Solution
HighQuest was able to review the history of system changes and develop documentation to support the new process. The documentation supported adherence to the informal internal control process. In addition, changes were also recommended to strengthen the internal control processes.
The Results
p>HighQuest defined supporting system changes to aid in the external review of our client’s internal control procedures. The informal processes were documented and released as policies and procedures. Verification was provided that the internal controls were adhered to for systems changes. This information will provide support for management for the internal controls and will also be helpful to the external auditor review.
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