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Presented by:
John Barile, CPA, CISA, CBCP
Thursday, September 11, 2008, 2:00pm to 3:30pm ET
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The audit landscape has changed substantially over the last decade, with the passage of Sarbanes-Oxley, and the implementation of game-changing standards such as SAS No. 94, SAS No. 99, AS No. 5 and the Audit Risk Standards SAS Nos. 104-111. At the same time, reliance on IT for the initiation, recording and reporting of financial information has become nearly universal. Understanding the risk inherent in increasingly complex and interdependent accounting information systems is crucial for today’s financial auditor.
In Part 5 of the AICPA IT Community’s five-part web seminar on IT General Controls for Financial Auditors, John Barile, CPA, CISA, CBCP, Information Technology Partner for Ernst & Young closes out our discussion of general controls with a discussion of IT from the Audit Partner’s perspective. Learn how understanding and gaining confidence with the design and execution of application and entity-level IT controls:
§ Frees the auditor up to focus on the areas of greatest risk
§ Allows the auditor to place greater reliance on the business systems that process business and financial data, including strategies for designing and executing tests of controls surrounding the utilization of application security to enforce a proper segregation of duties, as well as controls surrounding data input, processing and output.
§ Validates the use of Computer Assisted Auditing Tools and Techniques to perform comprehensive transaction testing, and automated journal testing to detect fraud, while greatly increasing the efficiency and scope of the testing
§ Lays the groundwork for more advanced audit strategies including continuous controls monitoring.
About the Presenter:
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John Barile, CPA, CISA, CBCP
Partner, Northeast Area Risk Advisory Services (RAS) practice
Ernst & Young, LLP
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John Barile, CPA, CISA, CBCP is a Partner in Ernst & Young’s Northeast Area Risk Advisory Services (RAS) practice, with over 19 years of experience providing external audit support, internal audit outsourcing/cosourcing, and advisory services in the technology area. While John has supported a multitude of industries, his primary focus is in the Retail and Consumer Products sector. John has worked with all aspects of the retail and consumer products business and related technology, including supply chain management, financial processes, and business operations. He has planned, managed, and performed reviews of category-leading retail systems, such as SAP for Retail, JBA/System21, JDA, Island Pacific, Oracle/Retek, and STS. Additionally, his experience includes the management of operational and technical pre-implementation and post-implementation reviews for ERP and core business applications, including SAP R/3, Oracle Financials, PeopleSoft Financials and HRMS, JD Edwards, Jesta/Essentus, and PkMS. John has also managed other technical and operational projects, such as data security reviews, data conversion reviews, reengineering studies, data integrity reviews, business continuity plan development, due diligence assessments, and security penetration studies, as well as assessments of global technology operations in support of management’s assessment of internal controls under the Sarbanes-Oxley Act of 2002.
A frequent speaker at retail and consumer products events, John is the Ernst & Young representative to the National Retail Federation Information Technology Internal Audit Council, and the technology liaison to the Ernst & Young National Retail Consumer Products (RCP) Industry Team.
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