Which of the statements below best explains how technology has impacted internal control systems?
While the Sarbanes-Oxley Act (SOX) did not encourage cybersecurity best practices when it was first enacted, SOX requires strong controls around financial reporting that also impact data security. UCSF departments implement these controls in a variety of ways and on a daily basis. All employees have responsibility for executing these control activities and promoting a culture of risk awareness. Departments should be sure to document their operating procedures and make them readily available, as they are key to supporting an effective internal control environment. The overall objective of internal controls is to provide reasonable assurance that an entity’s established objectives and goals are being met.
