Over $35 billion was lost at the start of this
millennium by investors in US stock markets.
To a large degree, this collapse was instigated
by illegal manipulation of corporate financial reporting-better
knows as "creative accounting".
As a consequence, viewers have seen the parading
of top executives across TV screens as they were
traipsed into courts of law, and in its wake the
passage of the Sarbanes-Oxley Act, which intends
to tighten internal controls over financial reporting.
Many public companies charged with meeting these
compliance guidelines have struggled to determine
just exactly what they're required to do. Indeed,
the long enforcing arms of SOX compliance legislation
will reach down into all types of corporate nooks
and crannies.
SOX differ from other compliance guidelines, in
that the IT Department plays a critical role in
supporting the mandatory requirements.
And as the compliance deadline beckons, the screw
is turning on IT Departments who prepare for an
extremely rigorous audit.
Check our software solutions that should enable
IT Departments comply with guidelines.
We can help review a broad spectrum of solutions
ranging from mammoth end-to-end systems, such as
those from SAP, to more specialized products, for
example technologies for email or hardware.
Who should read about this service?
If your company is subject to SOX compliance
and you're involved in IT activities, you could
benefit from the information contained in this
service.
Companies affected by
SOX include:
All USA publicly traded companies, each of their
divisions, and all of their
wholly owned subsidiaries.
Non-USA multinational companies engaged in business
in the U.S
Though SOX is not mandated for private firms,
noises have been made that private firms should
explore how to comply with the spirit, intent
and letter of the law.
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