Information Provided by Entity Overview.pptx

This slide deck covers the principles of Information Provided by Entity (IPE). We cover:
What is in scope?
Establishing a baseline for business processes.
Saving time and effort on producing evidence for reporting.
Creating a culture that adopts evidence creation.

1. IPE - techniques and best practices for your audit and compliance programs

2. Working on Internal Controls, Audit & Compliance since 2003. [email protected]

3. Seecuring supports organizations through evaluating and assisting in audit, security and controls. Segregation of Duties, Sensitive Access and Patch Impact Analysis. Provided as a service from training through to controls evaluation. Tailored training for: IPE, Change Management, Management Responsibilities, Standards and Policies.

4. IPE Overview Establishing what is in scope for Financial Reporting. Building a framework for baselining and managing the IPE process. Maintaining the baseline, and evaluating changes to sources. Creating a culture that embeds IPE into Business Functions.

5. IPE Overview

6. Many SOX controls operate around the review or use of data in most if not all companies. Due to guidance released by the Public Company Accounting Oversight Board (PCAOB), Sarbanes Oxley (SOX) requires the validation of the completeness and accuracy of IPE when using the IPE to perform controls.

7. Keywords: Complete and Accurate

8. Different types of IPE

9. Different types of IPE

10. Different types of IPE

11. Different types of IPE

12. Different types of IPE

13. IPE Overview

14. Establishing what is in scope for Financial Reporting.

15. Simple: Anything that provides for, or supports Financial Reporting

16. The challenge: More and more departments are implementing applications that don’t require IT’s involvement.

17. The challenge: Shadow IT – 6 in 10 workers admit to using unsanctioned applications and services to share data.

18. The challenge: Three-quarters of IT leaders say security is their top concern regarding SaaS sprawl. Compliance (58%), costs (57%) and shadow IT (57%) follow as the main areas of concern, the survey found.

19. The challenge: https://www.ciodive.com/news/app-sprawl-saas-data-shadow-it-productiv/606872/

20. Could IPE have helped prevent the Enron scandal? Enron’s leadership fooled regulators with fake holdings and off-the-books accounting practices. Enron used special purpose vehicles (SPVs), or special purpose entities (SPEs), to hide its mountains of debt and toxic assets from investors and creditors.

21. Could IPE have helped prevent the Enron scandal? SELECT account_ID , account_number , amount FROM accounts; SELECT account_ID , account_number , amount FROM accounts WHERE business_unit !=‘001FRAUD’;

22. “Everyone Has a Plan Until They Get Punched in the Mouth.” Mike Tyson

23. Mike Tyson didn’t meet a good baseline.

24. A good baseline should consider: Why? ITGCs and ITACs applicable? Is the reporting method canned or custom? Is it Ad-hoc or Controlled? Risk ranking of report, with justification & relevant controls. Sample size for testing

25. A good baseline should consider: The testing and outcomes with supporting evidence. Tracking modifications.

26. Example framework

27. IPE & Culture

28. “Behind every great control is an even greater set of habits”

29. IPE should be embedded into corporate culture. Employees aware of new applications and services that may be in-scope. Responsibilities on Departments. Regular/periodic reviews of IPE processes. IPE mapped out for anyone to understand.

30. Forward thinking – what works for you? Reward or Punish? If bonuses are awarded on good corporate performance, could IPE be tied to it? Punish if IPE is not followed?

31. Need help? Training to support your IPE and other processes, tailored to your organization. Video and Documentation provided. Fostering great culture for supporting IPE.

32. Q&A

33. Contact [email protected]