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Inside Internal Controls

News and discussion on implementing risk management

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SOX compliance

Costco reports a material weakness in internal control. But is it really?

In an Oct. 4th news release, Costco Wholesale announced its operating results for the 4th quarter and full year expecting to report a material weakness in internal control.

 

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Why are SOX compliance costs increasing so much?

From a recent survey by Protiviti, the information on how many organizations had to issue a cyber-security disclosure is interesting. Apparently, this generally resulted in an increase on SOX compliance hours – although the reason for a significant increase is not clear.

 

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Selecting software to help manage user access risk

I believe software is essential in managing user access risk, not only for SOX but also for other business risks. In fact, the potential harm from inappropriate access is typically greater for other business risk (such as the possibility of disruption of activities such as revenue generation or manufacturing, reputation risk, and the protection of valuable intellectual property) than it is for SOX.

 

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