IMPLICATIONS OF AND COMPLIANCE TO SARBANES-OXLEY AND OTHER DATA INTEGRITY ACTS - PART 2 - PLAN OF ACTION

摘要

The previous issue focused on the wave of new corporate governance regulations that impact companies with particular emphasis on the Sarbanes-Oxley Act that is likely to have major implications relative to the internal control infrastructure of all publicly-owned companies. The focus was on the key features of Sarbanes-Oxley, the need to develop a top-down strategy and approach to achieve compliance, and the Securities and Exchange Commission's requirement that companies adopt a COSO risk-based control framework. This issue is devoted to the need for a detailed plan of action to achieve compliance. It also illustrates the structure of a seven-phase compliance life cycle and how this can be incorporated in the form of an action plan for compliance.