Sarbanes-Oxley

FRCP Gramm-Leach-Bliley Act Sarbanes-Oxley HIPAA Corporate Governance CA's Information Practices UK Freedom of Information UK Data Protection Act '98

The Sarbanes-Oxley Act overhauled the processes and accountability for financial reporting in companies listed in the US. It made corporate executives explicitly responsible for annually establishing, evaluating and monitoring the effectiveness of internal controls over financial and operational processes.

While the majority of the financial reporting takes place with back-office software systems, much of the work is still done with spreadsheets and email. Has your organization established the internal controls to ensure your financial reporting complies with the law?

Since the passage of the Sarbanes-Oxley Act in 2002, the Justice Department has:

Obtained over 500 corporate fraud convictions or guilty pleas
Charged over 900 defendants and over 60 corporate CEOs and presidents with some type of corporate fraud
Obtained charges against 31 Enron defendants and seized over $161 million for the benefit of victims of the frauds at Enron

The SEC is also using its new enforcement authority under the Sarbanes-Oxley Act. It:

Suspended 32 companies from trading
Sought asset freezes against individuals and companies in 36 cases
Sought to bar 110 corporate executives and directors from again serving in publicly traded companies

Workshare software helps organizations implement internal controls to protect data and audit information usage by:

Stopping out-bound email that contains financial or other sensitive information and alerting users to the violation
Enforcing usage policies that control content
Enabling companies to define rules for content control and protection and who can override existing policies
Providing audit reports of content changes
Supporting compliance activities without changing the way your users work

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