Rolling Meadows, IL, USA November 10 2003--—A joint publication, written to help companies evaluate their current environment as it pertains to IT implications of the Sarbanes-Oxley Act of 2002, is being issued by the IT Governance Institute (ITGI). Co-authored by Christopher Fox, CA, PricewaterhouseCoopers LLP, USA, and Paul Zonneveld, CISA, CA, Deloitte, Canada, the discussion document provides new guidance on information technology (IT) and financial control building on an IT control approach that aligns with the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Control Objectives for Information and related Technology (COBIT) IT governance framework.

IT Control Objectives for Sarbanes-Oxley: The Importance of IT in the Design, Implementation and Sustainability of Internal Control over Disclosure and Financial Reporting is a discussion document. A final document will follow in approximately six weeks. Available as a complimentary downloadable publication from www.itgi.org, it provides assessment tools, control objectives and a road map that help companies seize the opportunity and turn compliance into a competitive advantage

"For many companies the increased level of engagement between IT management and external auditors under Sarbanes-Oxley will be a new challenge," said Lynn Edelson, partner and U.S. leader for systems and process assurance at PricewaterhouseCoopers. "Senior IT management needs to start talking with the external auditors about IT controls, including documentation and testing, quarterly reviews of significant changes in the IT environment, audit committee IT oversight and fraud controls."

"The Sarbanes-Oxley legislation has created a greater need for businesses to have IT controls in place," said Bill Levant, Deloitte partner and national leader for IT risk and control services. "Ensuring the reliability of financial data and maintaining ethical compliance is now the law and achieving that requires that the appropriate controls be put in place so that technology can enable compliance. In addition, the opportunity to revisit existing controls may lead to greater operating effectiveness and efficiency."

Note to Editors: The Sarbanes-Oxley publication is available from www.itgi.org or complimentary editorial review copies can be requested from one of the media contacts below.

About the IT Governance Institute
The IT Governance Institute™ was established by the Information Systems Audit and Control Association® (ISACA®) in 1998 to advance international thinking and standards in directing and controlling an enterprise's information technology. Effective IT governance helps ensure that IT supports business goals, maximizes business investment in IT, and appropriately manages IT-related risks and opportunities. To learn about the IT Governance Institute, visit www.itgi.org.

About PricewaterhouseCoopers
PricewaterhouseCoopers is the world's largest professional services organization. Drawing on the knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing services based on quality and integrity. ("PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.) To learn about the firm, visit www.pwc.com.

About Deloitte
Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial services and consulting through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the US member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. The services described herein are provided by the US member firm and not by the Deloitte Touche Tohmatsu Verein. For more information, please visit Deloitte's web site at www.deloitte.com/us.




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