In its early years, I came across all kinds of bureaucratic absurdities in the name of Sarbanes-Oxley. Accountants said that SOX required a financial analyst to approve all purchase requisitions, the facilities staff insisted that all discarded documents be shredded and the IT security staff demanded a vice president approve email accounts. I once joked that SOX probably required that we all park our cars facing south.

Fortunately, we moved on from those crazy days. Leading companies have progressed from restrictive and onerous controls over everything to focusing on the constraints that really matter. Controls are only audited where there is a real risk of a material misstatement of the company's filings with the Securities and Exchange Commission. A top-down and risk-based approach is used to identify those risks.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access