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Sarbanes-Oxley Compliance Journal: An Integrated-Data View of Compliance

Sarbanes-Oxley Compliance Journal: An Integrated-Data View of Compliance

by Rick Turoczy on April 20, 2006

Previously, public companies approached regulation as a necessary evil. With the advent of Sarbanes-Oxley, the bar was raised. Enterprises must now address compliance from both strategic and tactical perspectives, adopting a proactive and holistic approach to robust & comprehensive controls-management and reporting. Corporate life at the top is far riskier than ever before. CEOs and CFOs are particularly exposed, because they are now more accountable to watchdogs and interested parties for each decision they make.

The most difficult part of Sarbanes-Oxley is Section 404, which is responsible for the greatest portion of compliance-spend, expected to reach $35 billion for new IT solutions and expertise. A large portion of that investment involves moving from manual processes to technology solutions that automate the compliance processes behind Sections 404 and 409, which stipulates that the board and executives must disclose real-time information “concerning material changes in the financial condition or operations … including trends as the (SEC) determines necessary for the protection of investors and in the public interest.”

Sarbanes-Oxley Compliance Journal: An Integrated-Data View of Compliance

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