IMPLICATIONS OF AND COMPLIANCE TO SARBANES-OXLEY AND OTHER ACTS
- Strategy, Control Framework and Plan of Action -
MAP-55
Javier F.
Kuong & MASP Consulting Group
This unique and timely manual will greatly assist you in developing a strategy, approaches and plans for complying with the new Sarbanes-Oxley Act.
MAP-55 is all you need to prepare an effective Sarbanes-Oxley Compliance Program
BACKGROUND
Enterprises and Organizations are now subject to newly enacted, demanding and sweeping enterprise governance, privacy and anticorruption laws.
In the past few years, Congress has been quite active legislating and issuing new laws to control corporate governance, protect the privacy of individuals, discourage electronic infrastructure attacks, and enhance Homeland protection to protect Americans from terrorist acts.
Individually and collectively, the above rash of unwelcome incidents has had the effect of seriously undermining the integrity of financial institutions, eroding stakeholder’s confidence and incurring the average citizenry’s rage and distrust of the inadequacies in enterprise governance on the part of private business enterprises.
The Sarbanes-Oxley Act is the most recent one. It makes senior management and CFOs directly accountable for the accuracy and integrity of financial reporting. It will also impact virtually all employees that will have to be involved in developing and deploying compliance programs. Because it affects the integrity of financial reporting, the CIO and information technology personnel are indirectly impacted as well since data capturing, storage, retention and recording will be affected. In addition, Sarbanes-Oxley will impact a host of other personnel in virtually every functional area of the enterprise.
The Sarbanes-Oxley legislation was triggered by a series of adverse events that occurred at the national and global level. In particular, the Act was instigated by the major incidents of management corruption and fraud of unprecedented and scandalous proportion, such as ENRON, MCI, Arthur Andersen’s act of collusion, and many other misdeeds.
All public organizations, large or small, and across all types of industries must comply with Sarbanes-Oxley. It will even impact international companies. Non-public organizations that have financial dealings with public companies may also have to become complaint.
The impact of Sarbanes-Oxley is far reaching and the development and deployment of an effective compliance program is likely to be complex and laborious depending on the status of an organization's system of internal controls.
This practical manual provides executives and all concerned with background, strategies, approaches and a detailed plan of action to assist them in their compliance efforts. Much of the literature provides descriptions and some discussions of the implications of the law without much discussion on how to approach and deploy a compliance program. MAP-55 offers more detailed information to assist you with compliance program development and deployment.
A copy of MAP-55 belongs in the desk of every executive, team leader and all personnel involved with Sarbanes-Oxley compliance. The following positions will directly benefit from this practitioner's manual:
CEO - Audit Committee and members of the Board of Directors
CFO
CSO (Chief Security Officer), Information Security professionals
Internal and Independent auditors
CIO, IT Executives and managers
Compliance Officer
Risk Managers
Legal Counsel
Controllers
Line Operational managers who deploy and implement Sarbanes-Oxley requirements
Vital Records groups
Team leader charged with developing compliance program - Internal and external consultants
Public and stakeholder relations
Internal and external consultants
CONTENTS ISBN 0-940706-65-2
1. A WAVE OF NEW LAWS ON ENTERPRISE GOVERNANCE, DATA PRIVACY AND HOMELAND PROTECTION
2. IMPLICATIONS OF THE NEW LAWS ON ENTERPRISE GOVERNANCE
3. SARBANES-OXLEY LAW ON ENTERPRISE GOVERNANCE AND FINANCIAL INTEGRITY
4. STRATEGIES AND APPROACHES TO DEVELOP AND IMPLEMENT A COMPLIANCE PROGRAM
5. PLAN OF ACTION TO ACHIEVE COMPLIANCE
APPENDIX
A. Literature References
B. Terminology
C. Information Sources
D. Index
FOR A DETAILED TABLE OF CONTENTS CLICK HERE
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