The IT consultant is frequently left wondering whether there is any extent of SOX implementation work that needs the it services austin, because the Sarbanes Oxley Act is so focused on the finance facet of companies.
First things first. SOX is all about internal controls over financial reporting. And we understand that a high percent of, or even all, financial data is saved, processed and handled by various financial systems that are computerized. Here is where the IT professional who has a strong background in information technology system controls and computer security coupled with respect and an acceptable comprehension of bookkeeping will get a head start in getting that SOX job.
To put it differently, you should not be intimidated by terms including Inventory, General Ledger, Debits, Credits, the Accounting Cycle. You are going to function as the person who has close knowledge of the inner workings of the financial programs system. And you'd better not be bad at communicating with the applicable accounting officials, external and internal auditors when it comes to dissecting the control measures now in place and how to improve upon them or keep the status quo.
Let us consider an example of the sales process. A sale transaction is entered into the system. Have you been able to identify the points in the system that just permits those with the required privileges to enter the trade and authenticates the user? Have you any idea what happens next? What tables are upgraded? Have you been capable enough to generate a trace file showing the logging of the trade itself, and the important upgrades in the right accounts to debits and credits? Can transactions be changed? By whom? Where are the Audit Trails? And so on.