{"id":917,"date":"2009-08-25T07:00:38","date_gmt":"2009-08-25T15:00:38","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=917"},"modified":"2009-08-25T07:00:38","modified_gmt":"2009-08-25T15:00:38","slug":"compliance-sarbanes-oxleys-grip-on-internal-audits-loosens","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/compliance-sarbanes-oxleys-grip-on-internal-audits-loosens\/","title":{"rendered":"Compliance: Sarbanes-Oxley's Grip on Internal Audits Loosens"},"content":{"rendered":"

Internal audit departments have hyper-focused on Sarbanes-Oxley since the legislation went into effect in 2002.\u00a0 The initial confusion around exactly what Sarbanes-Oxley entailed meant that many risk-adverse companies overdid efforts to ensure that they were within compliance.\u00a0 It hasn’t been until the SEC offered more specific guidance around Sarbanes-Oxley in 2007 and the PCAOB provided clarification in their 2007 Auditing Standard No. 5 that companies are feeling they have a better grip around what is required.<\/p>\n

Those clarifications are now allowing internal audit departments a chance to finally look beyond Sarbanes-Oxley into other areas that they’ve traditionally have been involved but which have been placed on hold over the past few years.\u00a0 Some are referring to the change in focus as a “rebalancing strategy”.<\/p>\n

Audit departments identified the following areas as focus areas when answering a survey by Protiviti<\/a>:<\/p>\n