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Post details: Sarbanes Oxley Year Two Sustainability & Compliance - The Challenge Ahead
01/09/06
Sarbanes Oxley Year Two Sustainability & Compliance - The Challenge Ahead
Sarbanes Oxley Year one has been a great learning experience for many companies. The clients which I helped in with their Sarbanes Oxley 404 implementation, were all unanimous that the effort being put in Year one would be near impossible in Year Two. All agreed that Year Two would be more of reaping the benefits of work done in Year one. In a recent survey conducted by my firm for clients asked them some of the challenges they expect in Year two of complying with Sarbanes Oxley. One thing was clear from the survey that year two should focus on sustainability. A methodical, efficient and economical approach was what most executives believed would make the difference in Year two Section 404 compliance. Some of the Key findings of the survey were -
- Moving from compliance to Sustainability
- Reducing unneccesary complexity in evaluating internal control
- Further strengthening Internal Controls over financial reporting
- Trying to reduce cost of Section 404 Compliance
- Leveraging Technology extensively for 404 Complaince, documentation, evaluation, testing, monitoring & reporting
More on SOX >>
Objectives of COSO , Company Level Controls , Internal Control Process
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