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Re: Can Open-Source Software Survive an Audit?

Posted by phfcpa on 2004-02-21 07:19:36

In reply to RobEnderle

Dear Rob
To clarify, "SOX" (Sarbanes Oxley) only applies to entities traded on a US stock exchange, (Yes, I am ignoring the FDIC issues re holding companies) Therefore Section 404 will only apply to those entities.
These "public entities" are only part of the US GNP, and depending on who you talk to (SBA, etc)are not on a cummulative basis the largest US employers or the greater contributor to the GNP.Therefore most companie using financial software are not effected by SOX or by your article.
Having done IT audits pursuant to 404, I am required to test the compliance software used by the public entity. In my opinion if you do not, how can you attest to it working?
I have as much problem with a system based on Linex as with windows. The issue is access to the system. Microsoft puts out a patch, the companies I audit have IT procedures before they randomly apply that patch. Same with Linex.
If you issue is the outside security of the financial system, both software is vulnerable. If your issue is internal manipulation, I always assume that they are both vulnerable. At times I have found that both systems do not pass section 404 audit, yet more times than most either software based system will pass.
as for your comment about the CFO or Audit Committee, as you are aware Sox requires the audit committee to have knowledgeabout how financial systems and audits are done. I have found them to be very knowledgable about IT audits (after all they would be the ones to sign your consulting contract)
Lastly first name is peter, cpa is my occupation, and I am registered with the PCAOB


*	Topic	Author	Date
	Re: Can Open-Source Software Survive an Audit?	Rob Enderle	2004-02-17 21:02:48
	Re: Can Open-Source Software Survive an Audit?	beaner	2004-02-24 06:19:24
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-24 08:20:23
	Re: Can Closed-Source Software Survive an Audit? (was Open)	heron	2004-02-22 20:41:15
	Re: Can Closed-Source Software Survive an Audit? (was Open)	RobEnderle	2004-02-24 08:06:47
	Rob undermines his own opinion.	sgt_jake	2004-02-19 12:59:42
	Re: Rob undermines his own opinion.	RobEnderle	2004-02-20 09:55:04
	I call hypocracy	bangular	2004-02-24 05:33:38
	Re: I call hypocracy	RobEnderle	2004-02-24 08:14:22
	Interesting	sgt_jake	2004-04-15 08:14:40
	Re: Can Open-Source Software Survive an Audit?	jejones3141	2004-02-19 04:04:20
	Re: Can Rob Enderle Survive Reality?	timransom	2004-02-18 20:44:12
	Re: Can Open-Source Software Survive an Audit?	ptarra	2004-02-18 14:05:38
	Re: Can Open-Source Software Survive an Audit?	beaner	2004-02-18 13:27:35
	Playing fast and loose with your terms	shadow255	2004-02-18 11:15:07
	Re: Playing fast and loose with your terms	RobEnderle	2004-02-20 09:25:26
	Re: Playing fast and loose with your terms	cricketjeff	2004-02-20 10:01:04
	Re: Playing fast and loose with your terms	RobEnderle	2004-02-20 11:32:51
	Contradictions	JoeBunting	2004-02-24 04:52:15
	Re: Contradictions	RobEnderle	2004-02-24 07:52:36
	Re: Playing fast and loose with your terms	beaner	2004-02-23 07:23:09
	Re: Playing fast and loose with your terms	RobEnderle	2004-02-24 08:27:26
	Re: Playing fast and loose with your terms	cricketjeff	2004-02-20 16:11:42
	Re: Playing fast and loose with your terms	RobEnderle	2004-02-24 08:48:54
	Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-18 13:04:46
	Re: Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-19 02:47:43
	Re: Troll your boat, troll your boat, gently down the streeeeam	cricketjeff	2004-02-20 06:11:08
	Re: Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-19 17:18:27
	Re: Troll your boat, troll your boat, gently down the streeeeam	beaner	2004-02-19 09:12:37
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-20 08:53:30
	Re: Troll your boat, troll your boat, gently down the streeeeam	beaner	2004-02-23 08:08:52
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 08:36:20
	Re: Troll your boat, troll your boat, gently down the streeeeam	beaner	2004-02-23 08:00:28
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 09:42:54
	Re: Troll your boat, troll your boat, gently down the streeeeam	beaner	2004-02-27 07:01:32
	Re: Troll your boat, troll your boat, gently down the streeeeam	cricketjeff	2004-02-20 10:07:40
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-20 11:47:05
	Re: Troll your boat, troll your boat, gently down the streeeeam	cricketjeff	2004-02-20 14:34:19
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-20 17:07:52
	Re: Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-23 14:00:50
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 09:54:11
	Re: Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-24 10:40:08
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 11:14:21
	Re: Troll your boat, troll your boat, gently down the streeeeam	bangular	2004-02-24 13:27:47
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 14:10:10
	Re: Troll your boat, troll your boat, gently down the streeeeam	cricketjeff	2004-02-21 06:39:38
	Re: Troll your boat, troll your boat, gently down the streeeeam	RobEnderle	2004-02-24 09:00:57
	Re: Can Open-Source Software Survive an Audit?	jmpnop	2004-02-18 10:19:40
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-20 07:52:51
	Re: Can Open-Source Software Survive an Audit?	pasikoistinen	2004-02-26 01:46:13
	Re: Can Open-Source Software Survive an Audit?	ixnayrox	2004-02-17 21:08:56
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-20 10:30:36
	Re: Can Open-Source Software Survive an Audit?	beaner	2004-02-23 07:51:47
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-24 14:33:19
	Re: Can Open-Source Software Survive an Audit?	phfcpa	2004-02-21 07:19:36
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-24 09:15:42
	Re: Can Open-Source Software Survive an Audit?	alfarom	2004-02-24 05:45:42
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-24 09:27:45
	Re: Can Open-Source Software Survive an Audit?	alfarom	2004-02-24 13:47:46
	Re: Can Open-Source Software Survive an Audit?	RobEnderle	2004-02-24 15:00:56
	Personally, you're wrong...	DarkProximity	2004-02-25 09:46:24
	Re: Personally, you're wrong...	Smithy2004	2004-02-25 13:23:05
	sorry, I had to leave	DarkProximity	2004-02-26 10:21:45
	hehe... let me explain.	DarkProximity	2004-02-26 05:58:42