Summary
In general, SOX compliance investments can be classified into one or more of the following: 1. Information Technology - investments in infrastructure, such as networks, system management and software. 2. Business Controls - investments in enterprise resource planning, supply chain management, customer relationship management. 3. Company Policy and Management - management decisions regarding the centralization or decentralization of the business' processes; mapping management accountability into processes; and improvements to corporate governance. The quantification of SOX compliance benefits and the ROI of IT and business controls initiatives are discussed, the combination of which can provide controls to prevent fraud, misuse or loss of financial data transaction; enable speedy detection if and when such problems occur; and allow preventative action to be taken to limit and mitigate the effects of the problems.
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Extract
The Roi of Sox
While Sarbanes-Oxley compliance costs can vary depending on a company's revenue, operational reach and ownership structure, many businesses have experienced a multifold return on investment, ranging from the introduction of new initiatives to the implementation of improved business processes.
Businesses can boost their bottom line if they approach SOX compliance as an opportunity to improve the business' management, as well as to reduce the costs of operations and internal audits.SOX COMPLIANC...See the full content of this document
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