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Inside Internal Controls

News and discussion on implementing risk management

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Sarbanes-Oxley

Why are SOX compliance costs increasing so much?

From a recent survey by Protiviti, the information on how many organizations had to issue a cyber-security disclosure is interesting. Apparently, this generally resulted in an increase on SOX compliance hours – although the reason for a significant increase is not clear.

 

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The root compliance problem: Shadow process

Sometimes I revisit my compliance roots in the world of Sarbanes-Oxley – a place much more concerned with financial reporting than corporate ethics and culture, I know. Yet lessons from one group that can help the other still abound.

 

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A new front opens in the SOX battle

When potential material weaknesses are discovered during SOX or internal audit testing, my suggestion is to review the issue with the legal function. They can advise the CEO and CFO whether this should be disclosed as part of the Section 302 certification. This new front is clearly starting to open. Don’t let it pull you under.

 

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