Sarbanes-Oxley Ongoing Compliance Guide: Key Processes and Summary Checklists

Software Can Add Value Beyond Compliance

Most public companies would agree that Section 404 of the Sarbanes-Oxley Act (SOX) and its resultant reporting deadlines have made manual documentation and control testing increasingly difficult. The need to demonstrate sound financial controls over key business processes and test those controls annually has led many organizations down the path of automation.

The benefits of technology are certainly compelling. SOX-specific software can provide clear evidence that internal controls are in place and operating effectively, which can give executive management added confidence when certifying the effectiveness of controls. Perhaps even more important is technology’s ability to improve ongoing compliance efforts (and alleviate staff frustration) by streamlining documentation and facilitating continuous improvement. Before employing automation, organizations should seek to first incorporate a compliance mindset into their culture. A compliance software implementation coupled with the rollout of a complete ongoing compliance process can help facilitate this integration, so that compliance ultimately becomes another business process that is woven into the culture of the organization.

Implementing compliance software offered by one of the leading providers can help companies improve their compliance as well as business processes. Such products provide distinctive capabilities in compliance monitoring, maintenance, and reporting automation and offer ...