|
SOX - SARBANES OXLEY
Sarbanes-Oxley Act 2002
- Became Law on July 30th, 2002
- Oversight by Securities & Exchange Commission
- Created a Public Company Accounting and Oversight Board
- Most comprehensive corporate anti-crime law in history
- HIPAA and GLB are privacy acts.
- Sarbanes Oxley is a corporate governance act.
- Separated accounting functions into: Consulting - Audit
- Audit now has more power & authority
- Must change audit teams every 5 years
- It’s no longer just the numbers a company reports
- It’s how it got those numbers
- If a policy is not in writing it does not exist
- If an action is undocumented it did not happen
- Company CEO, CFO & CIO must certify to the completeness and accuracy of financial reporting
- Consequences: Costly remediation - Loss of stockholder confidence - Stockholder lawsuits - Criminal penalties
- The Consequences tend to get your attention.
- The entire process of insuring compliance is so massive and so complex that it can only be achieved by automation.
- SOX only specifies what a well run company should already be doing
- The high cost of compliance is offset by operational efficiencies that will result in a competitive advantage
Download the SOX Flyer by clicking the PDF* button below:
"Making it, As Easy as it Should Be"
POUCH Records Management Delivers:
• My Documents when I need them
• Fast, Accurate & Affordable
Call Toll Free: 1 (800) 400 FILE or Click Here to Email
* The above PDF files require the free Adobe Acrobat PDF Viewer. In order to view PDF files on your computer, you must have a PDF reader program installed. Due to Federal requirements for accessibility, PDF files on our site require version 6 or higher. If you do not already have such a reader, you can download a free reader at Adobe's website www.adobe.com After installation, you should notice that the Adobe Reader plugin becomes a part of your browser, allowing you to view PDF's from browsers like Internet Explorer and Safari. The reader software will also allow you to open and read PDF's saved on your hard drive or local network drive.
|
