The Sarbanes-Oxley Act

Paper Summary:

The paper explains that the Sarbanes-Oxley Act has been successful in enabling higher levels of accountability throughout publicly-held companies. The paper relates that this is mainly a result of re-defining core processes as they relate to financial reporting and the disclosure of events that impact a company's financial performance. The paper also points out the interpretative nature of the compliance legislation and the confusion that exists over just what constitutes a compliant strategy. The paper concludes that compliance is a corporate-wide strategy.

Outline:
Executive Summary
Fundamentals of Sarbanes-Oxley
Analyzing How Sarbanes-Oxley is Redefining Processes and IT Spending
Sarbanes-Oxley Audits Are the Big News for 2006
Bottom Line

From the Paper:

"Inherent in Sarbanes-Oxley compliance efforts is the synchronizing of the many databases and data marts that contain financial data. The growth of Enterprise Content Management (ECM) has been in direct response to the need for greater coordination of financial data and the re-defining of processes to make Sarbanes-Oxley compliance easier accomplished including successful completion of audits by Sarbanes-Oxley auditors. Columbus and Murphy (2002) defined through their series of research initiatives on the adoption of enterprise content management (ECM) as a unifying strategy across all content stores had a 5% penetration rate into many organizations."

Sample of Sources Used:

• AMR Research (2005)- SOX Spending for 2006 to Exceed $6B. John Hagerty and Fenella Sirkisoon. Tuesday November 29, 2005. Accessed from the Internet on July 1, 2006: http://www.amrresearch.com/Content/View.asp?pmillid=18967
• Columbus and Murphy (2002) - Re-orienting Your Content and Knowledge Management Strategies. AMR Research. Boston, MA. Report and research findings published October 2002. Retrieved April 26, 2005: http://www.lwcresearch.com/filesfordownloads/ReorientingYourContentandKnowledgeMgmtStrategy.pdf
• Economist (2006) - Virtual champions. Economist Magazine. June 1, 2006. Retrieved from the Internet on July 2, 2006: http://www.economist.com/surveys/PrinterFriendly.cfm?story_id=6969722
• Gartner (2005) - Compliance Has Many Faces. Bace, Leskela, Rozwell. Industry Research Brief G00125885. Gartner Group. January 31, 2005.
• Hagerty (2006) - Lowering SOX Costs through Scope Reduction. Alert by John Hagerty. AMR Research. Boston, MA. Thursday May 18, 2006. Accessed from the Internet on July 2, 2006: http://www.amrresearch.com/Content/View.asp?pmillid=19469

More papers on The Sarbanes-Oxley Act:

• Essay # 83873 : "The Sarbanes-Oxley Act"
• Analytical Essay # 71838 : "The Sarbanes-Oxley Act"
• Research Paper # 64146 : "The Sarbanes-Oxley Act (SOX)"
• Term Paper # 53186 : "The Sarbanes-Oxley Act"

APA Citation:

MLA Citation: