Guessing is not a strategy: How to build decision velocity with AI and real-time data
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Implementing SOX
Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.
When it comes to complying with Sarbanes-Oxley, implementation means only one thing: software. The trick is identifying the appropriate software package that best meets your company's needs. Companies that fail to devote time and concentrated effort to the critical selection process could face nightmarish problems.
When you consider the importance of identifying the appropriate "solution," it's not hard to understand why a niche software industry has literally sprung up around SOX, and it's happened within the last three years.
Everyone remotely concerned with the decision-making process (CEOs, CIOs, CFOs, IT managers and PMs) must know the ABCs of SOX implementation.
Forrester Research Vice President and analyst Paul Hamerman recently said that automating many of the complicated controls wasn't possible just two years ago, but it should be now. Other experts say that it's unlikely that there will ever be a single application that can do everything.
Over the past 18 months, however, efforts to comply with SOX's Section 404 have been accelerating at companies of all sizes, according to Lawrence Raff, a partner in KPMG Risk Advisory Services practice and its national partner in charge of the 404 Institute. KPMG's 404 Institute provides a forum for companies to discuss Section 404 implementation and share best practices information.
Vast strides have been …
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