Thanks, in part, to the fallout from the financial scandals of Enron, WorldCom, Tyco and others, the corporate spotlight is being refocused on the audit function. However, by waiting until systems are live and in production before applying an audit regimen, you may miss an excellent opportunity to establish effective controls at the outset, when the enterprise software is being implemented. Read on to learn where and how, as an executive sponsor, project manager, or team member, you can instill audit procedures that can continue throughout the life of the software.
significant expenditure and corresponding expense. The level of expenditure can determine whether software acquisition and implementation projects are capitalized between the balance sheet and income statement. Furthermore, the allocation method must be defensible. Typically, a company will rely on the project manager and the corresponding procedures and controls to support the position taken. With the arrival of SOX, as project manager, you should be taking certain actions in preparation. Become