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Sarbanes-Oxley News & Developments
Looking for GapsThe latest generation of compliance software promises to do more to ease the burden of internal controls assessment.
> > The Overtime Guarantee Act known as Sarbanes-Oxley, have finance managers busy tapping out distress signals. While Section 302 had garnered most of the attention of the media, Section 404 was proving to be the real compliance bear. Among other things, it requires companies to identify key business processes, the controls overriding the processes, and any vulnerabilities in the controls overriding the processes.
The deadline for implementing Section 404 is once again looming for most companies (March 15 for dozens of large companies; April 15 for scores of smaller ones). And many finance managers say they will not willingly spend another year in compliance purgatory.
Source: CFO
Published:2005-02-01
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