October 06, 2005
Majority of Large Multi-Nationals Surveyed will Invest in Technology to Assist 404
After getting through at least one Section 404 certification, large multi-nationals agree that technology can assist this whole process and tighten the controls and control environment.
Excerpt from an article:
"Big technology changes comingThree of four surveyed multinationals (75 percent) expect to make significant technology changes in year-two of their Sarbanes 404 compliance, including:
85 percent of those where tech support was seen as "satisfactory-with lots of room for improvement" in year-one;
69 percent where technology was judged as having done a "great" or "effective" job supporting compliance in year-one; and 77 percent where technology was described as a problem area.
Among companies making significant technology changes, 47 percent will give equal emphasis to the control environment and the compliance process; 18 percent will focus mostly on the compliance process, and ten percent will give primary emphasis to the control environment.
..."Senior executives see technology as an opportunity for both enhancing future Sarbanes 404 compliance and achieving overall efficiency and effectiveness of underlying business processes," said Olynyk. "For the 75 percent that will be making significant improvements, rationalizing the control environment and then embedding automated controls throughout cross-enterprise business processes will yield the biggest long-term gains." Click here for the complete article.
To learn more about tools and content that can assist your first and on going years of Section 404, see www.issuescentral.com to learn more about the Compliance Playbook(tm).
Excerpt from an article:
"Big technology changes comingThree of four surveyed multinationals (75 percent) expect to make significant technology changes in year-two of their Sarbanes 404 compliance, including:
85 percent of those where tech support was seen as "satisfactory-with lots of room for improvement" in year-one;
69 percent where technology was judged as having done a "great" or "effective" job supporting compliance in year-one; and 77 percent where technology was described as a problem area.
Among companies making significant technology changes, 47 percent will give equal emphasis to the control environment and the compliance process; 18 percent will focus mostly on the compliance process, and ten percent will give primary emphasis to the control environment.
..."Senior executives see technology as an opportunity for both enhancing future Sarbanes 404 compliance and achieving overall efficiency and effectiveness of underlying business processes," said Olynyk. "For the 75 percent that will be making significant improvements, rationalizing the control environment and then embedding automated controls throughout cross-enterprise business processes will yield the biggest long-term gains." Click here for the complete article.
To learn more about tools and content that can assist your first and on going years of Section 404, see www.issuescentral.com to learn more about the Compliance Playbook(tm).
