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Sarbanes- Oxley
Why
Sarbanes-Oxley?
Investors and
politicians got fed up by…
Fraud, Greed,
Plausible deniability by executives
No way to truly
gauge financial health of company
Too little
transparency into processes
Lack of
accountability
FAQ's
The
Sarbanes-Oxley Act was passed in 2002.
Sponsors: US
Sen.Paul Sarbanes and US Rep. Michael Oxley.
Applies to:
publicly-traded companies.
Overseen by the
SEC and the new Public Company-
-Accounting
Oversight Board (PCAOB)
Risk Framework
SOX says you must use an industry-set risk framework
Most commonly-used: COSO & COBIT
Computer Masters can help in the areas of data
implementation,
monitoring & reporting.
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