Changing The DNA Of ITAs organizations work toward compliance with the immediate deadlines of the Sarbanes-Oxley Act of 2002 and prepare to meet other requirements within the act, they are discovering the dollar cost of compliance.
Key Components of the Sarbanes-Oxley Act
Sarbanes-Oxley requirements for IT departments are contained in two sections and referenced in a third. Section 302 requires corporate executives to certify that their companies have designed and implemented adequate controls to ensure that financial reports are reliable and compiled according to generally accepted accounting principles. Section 404 requires that the Section 302-controlled processes result in certifiable financial reports. IT managers must take direct responsibility for the integrity of the IT role in the financial reporting process.