Acc 544

In: Business and Management

Submitted By micu98
Words 570
Pages 3
Controls for IT and Reporting
University of Phoenix
Internal Controls
ACC 544

August 22, 2011

Controls for IT and Reporting
As more business processes become streamlined and automated, many companies rely heavily on technology and the support from their Information Technology departments. Information technology has the largest responsibility within an organization. Information technology is responsible for the implementation and maintenance of the hardware and software within a company. Information technology is responsible for ensuring that the hardware and software are secure and align with the company’s needs, business operations, goals and objectives. Information technology serves as a mechanism of supporting internal control systems and reporting. Most information, including financial records, that are generated, circulated, and reported within a company are electronic. Therefore, the threat of information technology being compromised is prevalent. Companies must take precautions to protect their systems and choose proper internal controls for information technology and reporting. This includes evaluating the internal controls system’s effectiveness and answering the following questions: • Is the design and operation of the internal control system up-to-date with technological advancements? • Is the internal control system and reporting in compliance with Sarbanes-Oxley Act of 2002? • Does the current system identify existing controls that are inefficient, redundant, and cost ineffective? • Is the internal control system and reporting increasing productivity and overall organizational effectiveness?
After these questions have been answered and reviewed, management should evaluate to ensure the parameters and measures for how information technology should be regulated and controlled are being met. When evaluating information…...

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