Sarbanes-Oxley regulates processes and business practices, not technology. However, information technology is an integral part of most organizations of any size or complexity. Thus Sarbanes-Oxley does, in fact, regulate technology even though the emphasis is on the functions that technology implements, not on the technology itself.

The Gartner Group believes that the mandates of the Sarbanes-Oxley Act provide an opportunity for those affected by the Act to develop a better competitive position. That is, those complying with the Act will have a competitive edge over those not able to effectively safeguard the critical information . However, doing so will require finance and information technology to work closely together, which has not always been the case.

This act has had an important impact on litigation. During a nine-month period after the Act was passed, 443 suits were brought under the Securities and Exchange Act of 1934 and the Sarbanes-Oxley Act of 2002. The courts have completed 250 corporate prosecutions with 25 CEO convictions (10%).

How can AAXIS Group help Companies handle the Sarbanes Oxley Act?

• Ensure IT compliance with SOX 404 using proven Big 5 Methodology and Technology
• Implement directives of GLBA and SB1386 protecting Non-public Personal Information
• Map policies and procedures, using sample processes provided, and integrate this information into the overall Sarbanes-Oxley review of the organization.
• Generate flowcharts of process flows and highlight segregation of duties issues rapidly.
• Utilize working and proven templates and tailor them rapidly to the needs of each entity.
• Work at each individual location or entity and provide the corporate headquarters the ability to (re) view and monitor progress and results on demand
• Provide ability to directly integrate all existing documents and flowcharts without any rework.
• Perform the appropriate testing of control points and then rapidly report progress to management for action.