Big4Guy

For companies to effectively comply with Sarbanes Oxley, a sustainable SOX compliance operating model needs to be developed. Developing a operating model for SOX is nothing new for many companies. With the SOX compliance operating model, focus is more on a common integrated platform, simplified processes and key controls. Automation through technology and proactive risk management are some of the key areas of the sustainable compliance model. Below, I am listing down some of the key areas which form part of the Sustainable SOX Compliance Operating Model.

1. Tone at the Top - Tone at the Top starts with executive sponsorship and enforcement alongwith IT an business integration.

2. Process Driven - Sustained compliance requires clear ownership and responsbilities by process owners. Focus needs to be on the control environment alongwith insight into improving the overall compliance process.

3. Cultural Change - The model also requires a company wide change management. Integrating compliance into the day to day activities of the business is a key step towards sustained compliance.

4. Integrated Technology Platform - Simplification through automation is the mantra today. Consolidating all common application components into a single common platform for easy compliance can make compliance easy.

5. Regular Audits - The last loop in the model is conducting regular audits, which focus on risk based audit approach, self assessments, compliance audits, sign-offs and certifications.

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