SOX Compliance is No Place for Competition

Adams, John
October 2004
Bank Technology News;Oct2004, Vol. 17 Issue 10, p17
Trade Publication
The article focuses on various aspects of Sarbanes-Oxley (SOX) compliance. Its like a moving target; if someone is compliant now, the winds of business change may place that person out of compliance in a few months. The Integration Consortium and the Avalanche Corporate Technology Cooperative offer safe places to share information on staying inside the law. The project hopes to lower the cost of compliance by reducing the effort needed to create new controls, documentation and assessment procedures and by reducing efforts required by external auditors in auditing controls. The aim is to create the SOX Integration Framework, which is part standards, part best practices. The cooperative's members expect to share information leading to a list of successful strategies in meeting new requirements for the financial reporting controls required by the law.


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