Disclosure and internal controls seem to be commanding the headlines these days, with particular emphasis on complying with Sections 302 and 404 of the Sarbanes-Oxley Act of 2002 (SOX) legislation. The impact of information technology (IT) must be considered carefully during an evaluation of internal control over financial reporting as there are unique risks. The controls that mitigate these risks are important because of their pervasive effect on the reliability, integrity and availability of processing and relevant data.

In this issue of The Bulletin, we focus on the relevance of IT risks and controls to a company’s meeting the internal control objectives over the reliability of financial reporting.