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Re:Global Audit Firms Are Lobbying to Dilute Sarbanes-Oxley... by vkou on Friday May 12, 2017 @01:37PM (#14325991)
>Another great example is password rotation. The law demands you have a password rotation policy. It doesn't say what that policy should be. Most auditors have settled on 90 days.

This is false. SOX does not require that you have a password rotation policy. It requires that you have a password control policy, which may or may not include password rotation.

Likewise, I've worked at a company whose idea of SOX compliance was mandating a VP to sign off on every code commit, and I've also worked at a company whose idea of SOX compliance was mandating that someone sight off on every code commit. The former had a 90-day password rotation policy, the latter didn't have a rotation policy at all.

Re:Global Audit Firms Are Lobbying to Dilute Sarbanes-Oxley... by tlogan on Friday May 12, 2017 @02:08PM (#14326323)
In my previous job I was involved with IT of large corp and here is explanation I got:

Yes it is false but SOX does call for strict internal controls on financial information. Which means that password rotation is necessary so that people who are not anymore allowed to access information does not have access to these information any more. Thus password rotation is required.

I and my IT friends could be 100% wrong here but this is how these SOX vague requirements will be translated to IT admins.

Re:Global Audit Firms Are Lobbying to Dilute Sarbanes-Oxley... by ubernewb on Friday May 12, 2017 @03:30PM (#14327122)
I'm a former Big Four auditor, on the financial side, but I worked pretty closely with our tech folks and I'm now in the tech industry. SOx really does have very strict internal control requirements on financial data and how and where it can pass between systems and people, whether technological systems or physical ones. I've worked with clients who used strict password rotation to fit the law, as well as with clients who didn't do this. As long as the policies are clearly spelled out, do not allow those who are no longer supposed to have access to have access, and are consistent across the organization, it's all good. For example, one company I worked with changed passwords to one system only when someone rolled off the team working on it. That happened infrequently, but more than once a year. The policy was clear, written, and consistent, so it fit the internal control criteria.

Really, we'd need to find what are called 'material weaknesses' or 'significant deficiencies' to make us really stop and consider writing up a finding that would be published. 'Material weaknesses' are considered worse, and would likely lead to the possibility of a material misstatement in the financial statements of the firm. Deficiencies are a step below that. If the firm corrects them, we're okay for the most part, unless the weakness was terrible.

Re:Global Audit Firms Are Lobbying to Dilute Sarbanes-Oxley... by FireBeyond on Friday May 12, 2017 @03:39PM (#14327189)
> strict internal controls on financial information. Which means that password rotation is necessary so that people who are not anymore allowed to access information does not have access to these information any more

How does rotating a password prevent access? That's access control, not authentication.

Unless it's a shared password, which is a bigger problem.

Re:Global Audit Firms Are Lobbying to Dilute Sarbanes-Oxley... by pierrepoutine on Friday May 12, 2017 @05:06PM (#14327934)
privileged accounts may become disabled by system policy if the password is not updated after >180 days of expiry