There’s a backdoor into many large networks which few organisations seem to recognise or understand – Simple Network Management Protocol (SNMP). This is the internet standard protocol developed to manage nodes (servers, workstations, routers, switches and hubs etc.) on an IP network. It’s also one of the easiest ways for someone to control your network, steal information and eavesdrop on traffic!
Section 404 of Sarbanes-Oxley requires the CEO and CFO of US-listed companies each year to certify the adequacy of the company’s internal control over financial reporting, and for this certification to be attested by an independent accountant.
In December 2006, the US Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) announced a series of changes to the requirements of Section 404. In the same month the PCAOB also proposed a new auditing standard for those Section 404 audits that focus upon the internal control over financial reporting, with the objective of reducing the burdens and costs imposed by the original reporting requirements. This proposal was adopted and, in May 2007, the PCAOB replaced its Auditing Standard No 2 with what is known as AS 5, An Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements.
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