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| Thought Paper |
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Application Assessment for
Sarbanes Oxley Compliance |
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| Abstract |
The Sarbanes-Oxley Act (SOX) was designed with the objectives of improving financial transparency and reducing fraud, with the help of proven auditing techniques. As the legislation mandates storing of electronic records and messages for a period 'not less than five years', it has implications on the IT departments of organizations who have to make sure that the applications help the organization in complying with the regulations.
Sarbanes-Oxley, Act 302 concentrates on the quarterly reporting by the chief executive officer. Act 404, speaks of the annual reporting by the chief executive officer along with the executive council comprising of the chief financial officer. Each application within an organization has to comply with the 404 standards and report accordingly.
This whitepaper discusses the key steps and controls that an organization must undertake and establish for ensuring that all applications comply with the Sarbanes Oxley regulation.
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