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  • Actual for You - Sarbanes Oxley Compliance Requirements

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    lementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company exec
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    The Sarbanes-Oxley Act has been in force for some time now. Companies have acknowledged that it is not a one-off event, but is more in the nature of a process improvement activity enforceable by government regulations. A comparable process in the case of IT companies is the Software Engineering Institute’s Capability Maturity Model that governs organization processes in I T companies. The Act has already had a major impact on the financial, management and IT functions within public companies. It is, therefore, imperative that companies are fully aware of compliance requirements and institute implementation systems in their processes.

    Implementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company execu

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    rovement activity enforceable by government regulations. A comparable process in the case of IT companies is the Software Engineering Institute’s Capability Maturity Model that governs organization processes in I T companies. The Act has already had a major impact on the financial, management and IT functions within public companies. It is, therefore, imperative that companies are fully aware of compliance requirements and institute implementation systems in their processes.

    Implementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company exec

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    ty Model that governs organization processes in I T companies. The Act has already had a major impact on the financial, management and IT functions within public companies. It is, therefore, imperative that companies are fully aware of compliance requirements and institute implementation systems in their processes.

    Implementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company exec

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    ompanies. It is, therefore, imperative that companies are fully aware of compliance requirements and institute implementation systems in their processes.

    Implementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company exec

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    lementation: Company managements have to be fully aware of the ramifications of the Act since compliance failure could lead to no end of trouble for company executives. A major issue with companies has been that the SOX, as the Act is frequently referred to, is ambiguous. The reality is that the SOX are here to stay and it would be in the interest of companies to have policies in place for mission-critical systems. Some aspects to be monitored are:

    • The responsibilities and roles for compliance initiatives should be clearly defined, and there should be no ambiguity in this aspect.

    • It pays to have a pro-active approach and not wait for a back-up log from their systems to indicate trouble. A continuous review of records and historical data will give a faster indication of trouble. Business

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