It’s no surprise that the number of material weaknesses being reported each quarter continues to grow. When analyzing the 10-Ks and 10-Qs to uncover the reasons, it becomes clear that many of these are caused by a breakdown in IT General Controls.
The issue that many companies face with IT General Controls is that while they are typically managing the theoretical risk – what a user can do with their access to different systems – they struggle to monitor and assess the actual risk – what a user did do with their access. This is important because the stakes are high when a company reports a material weakness. One recent company making headlines saw a 4% drop in stock price because of it.
In this guide, we will take a deeper dive into the material weaknesses being disclosed and walk through the steps to remediate the issues & ensure they don't happen again. You will also discover how to: