The Impact of Sarbanes-Oxley (SOX) Act of 2002How did the SOX act of 2002 change IT auditing?

How did the SOX act of 2002 change IT auditing?
The Impact of Sarbanes-Oxley (SOX) Act of 2002 on IT Auditing The Sarbanes-Oxley (SOX) Act of 2002 was a major milestone in the history of IT auditing and was enacted to counter the wave of corporate misconduct during that era. The SOX Act implemented a rigorous framework of standards and controls, demanding increased accountability and financial transparency from American publicly traded companies and their auditors. Companies are now required to establish, implement, and maintain effective internal control systems for financial and IT processes. The Act’s impact on IT auditing was huge, as it required for organisations to identify and safeguard the data that was important to the financial reporting process (Booter, 2017). The SOX Act also created framework for IT auditors to evaluate IT systems for their reliability, accuracy, and compliancy (McKee, 2020). Today, the SOX Act acts as a cornerstone for IT auditing standards, as it provides a mandatory framework to assess IT systems and its controls. As a result, organisations have become more vigilant in managing their IT systems and have improved their internal control system to ensure its compliance with SOX. References Booter, T. (2017). A Guide to the Sarbanes-Oxley Act of 2002. BCR Community. Retrieved from https://bcrcommunity.com/ava/sarbanes-oxley-act-2002/ McKee, K. (2020). What Is the Sarbanes-Oxley Act (SOX)?. Investopedia. Retrieved from https://www.investopedia.com/what-is-the-sarbanes-oxley-act-s-ox-4587150Cont…