The Institute of Internal Auditors has finally updated its internal control guidance to incorporate the new Auditing Standard No. 5 and the management guidelines published by the Securities and Exchange Commission last year.


The report entitled, “Sarbanes-Oxley Section 404: A Guide for Management by Internal Controls Practitioners,” builds on the original one published in 2006. According to Norman Marks, vice president of internal audit at Business Objects and author of the guide, the original document was downloaded more than 40,000 times.

“This new version puts the SEC guidelines and AS5 into context,” says Marks, whose firm was acquired by SAP last ...