QuickBooks for SOX??? 2399

  • Is QuickBooks financial application SOX compliant?
    Thanking in advance…

  • Applications being SOX compliant is not really a relevant concept.
    It is companies that need to be SOX compliant through inter alia having and reporting on its systems of internal control (over financial reporting) which will include a variety of financial applications. What is important that management have control over the companies financial processes and that where those processes are supported by applications that those applications are properly controlled. The latter is mostly about how you operate the application rather than the application itself.
    there are multiple threads in this forum around General Computer Controls which should help.
    That all said, quickbooks is a pretty small scale application for a public company 8O

  • Hi and welcome to the forums 🙂 Denis shares some good feedback and I’ll add a few more IT related points:
    – As Denis notes, software cannot be officially rated as being SOX compliant … SOX gives general financial control guidelines that must be interpreted and adapted for a wide range of diverse companies
    – However, there are fundamental IT control principles that software product solutions must have to ensure there are no material risks. This includes controls to ensure unauthorized individuals cannot revise financial records, update integrity if there are multiple users, and checks-and-balances to ensure folks can’t create fictious entries in an unchecked manner.
    – Many external auditors use COSO as guidance for whether IT solutions (both the software and the surrounding control systems) meet SOX requirements. Below is a link for a free download:

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