February 04, 2005
Sarbanes-Oxley Projects
After working this week with a particularly well run Sarbanes-Oxley project, it occurs to me that if a company embraces this process, there is huge benefit. To really disaggregate all key processes in a company and closely examine their controls and operation, is something companies do not take the time to do. We should all do this. It is valuable. Companies, even small one, are really quite complex organisms. They deserve this "under the microscope" treatment to assure that operations are running as expected.
Forget Sarbanes-Oxley, what about just plain fraud and inefficiency? These should be the reasons that this process should be undertaken. It is really instructive for a company to understand how and why it really does things. Often, there is so much activity occuring that management does not even know about. Some of this activity is necessary and some is not. But nonetheless, it may not be in the company's best interest. The more complex processes are, the more they are subject to fraud - harder to understand and validate.
Sarbanes-Oxley projects are on the surface costly but in reality, this close examination may save companies millions of dollars in fraud that is avoided. Think about that for now.
Issues Central helps companies expedite their Sarbanes-Oxley projects and receive real benefit and an ability to deploy the information to their employees for real use and benefit. To find out more, see www.issuescentral.com and see the Sarbanes-Oxley Compliance Playbook(tm)
Forget Sarbanes-Oxley, what about just plain fraud and inefficiency? These should be the reasons that this process should be undertaken. It is really instructive for a company to understand how and why it really does things. Often, there is so much activity occuring that management does not even know about. Some of this activity is necessary and some is not. But nonetheless, it may not be in the company's best interest. The more complex processes are, the more they are subject to fraud - harder to understand and validate.
Sarbanes-Oxley projects are on the surface costly but in reality, this close examination may save companies millions of dollars in fraud that is avoided. Think about that for now.
Issues Central helps companies expedite their Sarbanes-Oxley projects and receive real benefit and an ability to deploy the information to their employees for real use and benefit. To find out more, see www.issuescentral.com and see the Sarbanes-Oxley Compliance Playbook(tm)
