Industrial gases group BOC said it faces higher than expected costs, totalling around £20m, over the next two years in order to bring the company into full compliance with the Sarbanes-Oxley (SOX) corporate governance regulations.
Like it or not, the clock is ticking for non-US companies that need to be compliant to one of the most talked-about elements of the Sarbanes-Oxley (SOX) Act established in 2002. The compliance process has given us the opportunity to further enhance...
However, despite the costs involved, Aston said that overall compliance was good for IT departments as it forced companies to reorganise disparate systems that in many firms had grown into random silos that did not communicate effectively.
John Hagerty, vice-president of research at AMR, said in a statement: "Technology will play an increasingly significant role in the integration of SOX [Sarbanes-Oxley] compliance initiatives into the business process.
Of the executives polled, who were from various business functions, after training and IT updates 49 per cent said they would be 'revising products and services to meet new regulatory requirements', 38 per cent said they would be 'employing...
Another is that sector-specialists are more able to carve out a niche for themselves in the industry. Some regulations span all sectors, such as Sarbanes-Oxley, the US public accounting legislation that was introduced in 2002 after the Enron...
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