The Sarbanes-Oxley Act of 2002, often called SOX, typically brings financial accounting standards to mind, along with a few controversial company names—think Enron, Tyco, WorldCom, etc. The common theme between these companies is irreparable damages to reputations as a result of scandalous financial governance, accountability practices, and a lack of information security standards. The SOX legislation was passed in an effort to protect shareholders in public companies whose accounting data accuracy and transparency, whether intentional or not, may be subject to manipulation.
Data accuracy and security is a high stakes game. Company executives must accept responsibility for the truthfulness and accuracy of financial information about their companies. If the data is found to be manipulated or falsified in any way, the penalties range from delisting on stock exchanges to 20 years behind bars.
Qmulos simplifies SOX compliance in a few easy steps. To the right you can find a link to download the free product brief, addressing some of the confusion behind the new standard, as well as how our solution, Q-Compliance, can assist your organization in quickly becoming compliant and helping your organization and your chosen third-party auditor organization in assessing your level of compliance.