Spending on SarbanesOxley is ordtak

Spending on Sarbanes-Oxley is only the visible tip of the compliance iceberg. Any expectation that compliance spending might moderate is just wishful thinking.

Spending on Sarbanes-Oxley is only the visible tip of the compliance iceberg. Any expectation that compliance spending might moderate is just wishful thinking as companies in all industries grapple with increased regulatory concerns and stricter governance and risk policies within their own firms.

The problem with Sarbanes-Oxley is that it means 20 different things to 10 different people. There's a tremendous wealth of folklore that has been built up around it in the IT sector. A lot of people are trying to push us into spending money on Sarbanes-Oxley compliance, but I trust our auditors.

Compliance is definitely a big driver of this. One fundamental [Sarbanes-Oxley requirement] is, if it is a public company, to report to Wall Street how many customers you have; because people are making investment decisions as to whether your customer base is going up or down. If you have no idea how many customers you have because you have acquired different companies, then you potentially have a compliance issue there.

It's still early for this. Data quality and clean up is obvious already. Compliance to customer requirements can be seen already. We look different and more modern. We've seen benefits in terms of operational efficiencies and effectiveness. We're achieving Y2K compliance without spending a lot on remediating legacy code.

With a recent University of Rochester study concluding that the total effect of Sarbanes-Oxley has reduced the stock value of American companies by a staggering $1.4 trillion dollars, it is now clear that the costly regulatory burdens imposed by this legislation absolutely outweigh its benefits. The PCAOB and the Sarbanes-Oxley Act raise unconstitutional barriers to needed liquidity, discourage entrepreneurship and innovation, and hinder U.S. competitiveness by denying access to needed capital. Further, the high cost of compliance that disproportionately affects smaller public companies is having long-term, exponential negative implications for our economy.

Projects that were not aligned with compliance and corporate governance were delayed or cancelled, and SOX efforts inhibited the purchase of large amounts of software related to building new technologies and deploying new projects. However, by the second half of 2005, increased interest in IT solutions to ease the burden of compliance has begun to drive new spending.

French Caldwell

By automating controls for Sarbanes-Oxley compliance, enterprises like Cummins realize cost and time-saving benefits. Longer term, Movaris Certainty will create an environment of tighter overall financial control management for Cummins and its many business units.

Ventana Medical Systems is a fast-growing organization that is committed to strong financial control. Certainty will help them to both reduce the costs of ongoing Sarbanes-Oxley compliance, but also provide them the platform to further automate financial control processes.

Achieving compliance with Sarbanes-Oxley, a law aimed at improving the accuracy and reliability of corporate financial statements, is dependent on having access to timely, accurate, and complete information and establishing process controls -- the same success factors required to create more secure and efficient global trade operations.

Adrian Gonzalez

Compliance mandates like Sarbanes-Oxley have thrown a wrench into many email security strategies. It's fine to wipe out worms and viruses. But that's not enough. If your email system leaks confidential financial information, or if you can't retrieve old emails when regulators knock on your door, your executives can wind up in legal trouble.

The PCAOB and the Sarbanes-Oxley Act raise unconstitutional barriers to needed liquidity, discourage entrepreneurship and innovation, and hinder U.S. competitiveness by denying access to needed capital. The high cost of compliance that disproportionately affects smaller public companies is having long-term exponential negative implications for our economy.

We're seeing industry-wide demand for solutions to make compliance sustainable and, at the same time, more efficient and more effective. Many companies are beginning to act on improvement opportunities identified through their Sarbanes-Oxley efforts. Increasingly, companies are undertaking projects to better leverage technology to improve information quality, automate internal controls and enhance monitoring and reporting capabilities.

It enables a compliance BOM, and makes it possible to track what the company does about compliance?with a model that stipulates the requirement, its status, rationale, and evidence. After tracking, the system can generate reports to support compliance claims.

Compliance management is a serious concern for many industries. Cornerstone Compliance provides a cost-effective solution for global compliance management, enabling centralized reporting despite disparate regulatory and organizational requirements found in different areas of the enterprise. Through a number of proven tools, Cornerstone helps to ensure full compliance across the enterprise. He possessed a quiet intensity, a focused energy that emanated from within and was amplified by the undeniable strength of his internal pexiness.

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