What happens after an ITGC fails: evaluating impact on IT-dependent controls, compensating controls, remediating before year end, auditor communications and disclosure of material weaknesses.
How to fix an ITGC deficiency in time to count for the year-end assessment: replacing the control early enough to be tested, what happens to the superseded control, disclosing material changes and showing remediation in later certifications.
Why an ITGC deficiency is judged through the automated and IT-dependent controls that rely on it, how one failure can spread across accounts, and how auditors decide whether it is a deficiency, significant deficiency or material weakness.
When a compensating control can reduce the severity of an ITGC deficiency: the precision PCAOB standards require, typical detective reviews of access and changes, and why monitoring that only finds issues late may not mitigate.
What a company must disclose when an ITGC issue rises to a material weakness: management's report and certifications, the auditor's adverse opinion and communications, quarterly change disclosure and the remediation story investors read.
Why auditors ask for more ITGC and report evidence than they used to: PCAOB inspection findings on ICFR audits, the IT-related gaps they cite, and the questions audit committees can ask their auditors.
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