The Sarbanes-Oxley Act of 2002 (SOX) was enacted to protect investors from fraudulent accounting activities by corporations. Section 404 requires management to be responsible for an adequate and effective internal control structure. IT departments that are responsible for implementing and maintaining Section 404 internal controls must test, document, and maintain those controls.
SeQureview can assist organizations with monitoring, reporting, testing, and auditing the Access Control and Change Management internal control categories relating to SOX section 404 compliance.
Speed Up Audits
The SOX IT audit process can be very time consuming for auditors. Access Control audits are required for in-scope applications and are usually conducted on an annual basis. This provides a snapshot into the effectiveness of defined user access and change management internal controls through a sample of all access control related changes. Additionally, identified issues of non-compliance are discovered after the fact, often months later, preventing department administrators from taking immediate corrective actions.
SeQureview can handle all the heavy lifting. SeQureview will effortlessly monitor, evaluate, and report on thousands of access control change events in near real-time and provide interested parties standard and custom reports to support work paper requirements for audits and notification for SLA adherence and departmental self-review - becoming an additional internal control for the department.
SeQureview’s automated reports can be used to provide an access control and change management record of compliance for regulations like SOX, HIPAA, and PCI. Custom reports can include information that is most relevant to specific audiences, including auditors, regulators, senior management, and technical teams.
Limiting digital access to sensitive financial information is a crucial component of SOX control testing. Organizations need to regulate and monitor users and systems that have access to technology systems that contain sensitive information. SeQureview will assist with SOX compliance and assurance through:
- User and system access rights management and monitoring during on-boarding, role changes, transfers, and off-boarding. By integrating with a change management system, SeQureview helps to ensure that each user and system account is approved and adheres to the organizational defined segregation of duties and ‘least privilege’ role-based standards.
- Continuous and complete review and audit of access controls. SeQureview evaluates, reviews and audits 100% of access control events across the entire application.
- Automated and near real-time reporting. This not only frees up time for auditors but provides immediate feedback to administrators of a potential compliance access control violation. This allows administrators to make changes as the issue is discovered instead of being notified months later with an audit finding.
Disciplined change management practices are another key component of SOX compliance. Organizations must ensure the integrity of systems that store regulated data through an effective, repeatable, and demonstratable change process. SeQureview will help ensure organizations adhere to change management requirements through:
- Automated controls to validate the change request. SeQureview integrates with the change management system to identify the requested change and evaluate the status of the change request to ensure that it is valid, approved, and all required documentation is collected.
- Validation of authorized and approved changes within applications. SeQureview then evaluates the status of connected applications to help ensure that only a change that has been approved and authorized within the change management system is completed.
- Detailed reporting on approved and unapproved changes. By having visibility into both the change management system and critical regulatory applications, SeQureview can identify, report, and alert when an access control change is made that is not approved, does not meet SLA requirements, or does not adhere to role-based standards.