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SOX Life: Revisiting your Control Environment

SOX Life: Revisiting your Control Environment

by Toby Lucich on April 13, 2010

I have had too many conversations about “just one more layer for good measure” when it comes to controls in the enterprise.

Never enough time” and “too many competing demands” seems to be the recurring theme, as folks complain about staffing being reduced 10% since 2007, and cashflow being as tight as most of us have ever witnessed.

These complaints seem to come on the heels of

  • “This is a great idea, but we’ve already got 37 strategic initiatives underway, and I don’t know if we can manage since we are running 4 FTEs under budget and have two new temps joining our staff this week.”
  • “We don’t know if management is getting the information they need – we’re too busy trying to keep up with the recording of our transactions.”
  • “Send me an invoice [for consulting services], and we’ll see how the Procurement process plays out.”
  • “I’ve got so many mandatory tasks to perform, I/we never get to the valuable work of analysis and investigation that could really move our company forward.”

Have you re-evaluatead your control environment lately?

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