[...]... INDEX 271 Preface (For updates and worksheets, visit www.SarbanesOxleyGuide.com.) This book is a comprehensive, authoritative guide to getting your organization compliant with Sarbanes- Oxley It provides a foundation and an advanced reference for finance and information technology (IT) executives, professionals, and consultants who are involved in or are looking to get involved in Sarbanes- Oxley related... addresses: ■ ■ ■ ■ ■ Key aspects and components of the Sarbanes- Oxley Act A methodology to achieve Sarbanes- Oxley compliancy for your company The road map to compliance, including checklists, worksheets, and project plans The business and technology implications and resource requirements for compliance The future of Sarbanes- Oxley and its impact on corporate America and the world The book includes practical,... are rigorous and require a commitment from all members of the organization From the CEO to the accounting clerk to the information specialist, all employees must operate using ethical and accurate standards, and those standards must be communicated through, and reinforced by, the corporate culture SARBANES- OXLEY AND CORPORATE CULTURE It is one thing to create new laws and regulations and expect companies... sanctions for violations of the board’s rules, securities laws, and professional auditing standards The Securities and Exchange Commission (SEC) has adopted many of the Sarbanes- Oxley provisions, and the breadth and depth of these changes ensure that CEOs, CFOs, and CIOs must pay close attention to the systems the corporation has set for reporting and auditing of all financial information and securities... to transform the entire finance department into a transparent, teamoriented unit; unfortunately, this will be quite a leap for many The finance department will be looked at as a model for the new and open atmosphere that is necessary for the data integrity and accuracy demanded by Sarbanes- Oxley To ensure dependable data and transparent operations, it will be necessary to shift the focus of finance. .. financial information they are presenting to the public is accurate, they will expect their accounting, finance, and information professionals to adhere to the highest professional and ethical standards Managers need to set this example and incorporate a bestpractices routine for their staff to model That means taking the time to review documentation, asking questions about the numbers and information... sources, and addressing issues as they arise Rubberstamping is no longer acceptable Due diligence does not indicate distrust in a colleague’s work; rather; it reinforces the importance of accurate reporting and attending to issues at the source so that they can be rectified and abated SARBANES- OXLEY AND THE FINANCE DEPARTMENT The finance department will undergo enormous change as SarbanesOxley–related reforms... Contents Sarbanes- Oxley and The SEC CHAPTER 12 Enterprise Technology Ecosystem Organic IT Architecture Ecosystem and Sarbanes- Oxley CHAPTER 13 Implementing the SOCKET Methodology Species or Components of the Enterprise Technology Ecosystem COSO Framework SOCKET Technologies Transactional Systems: ERP, SCM, CRM Analytical and Reporting Systems Data Warehousing CHAPTER 14 SOCKET and Enterprise Information... understanding of the corporation and all its departments, an opportunity to drive up the value of finance, and a chance to reap the many benefits that come with increased responsibility and respect SARBANES- OXLEY AND THE IT DEPARTMENT Sarbanes- Oxley, the new financial reporting law, likely means huge changes to information systems technology One of the principal ways in which corporations and corporate executives... HealthSouth’s earnings and assets during the past several years The information coming out is only as good as the information going in, and the onus will be on the IT department to ensure data integrity, reliability, and accuracy SARBANES- OXLEY AND CORPORATE MANAGEMENT Despite the grumbling about the cost to deploy systems that will enable corporations to comply with Sarbanes- Oxley initiated reforms, the consensus . alt="" Sarbanes- Oxley Guide for Finance and Information Technology Professionals SANJAY ANAND John Wiley & Sons, Inc. ch00_FM_4621.qxd 1/24/06 12:09 PM Page iii Sarbanes- Oxley Guide for Finance. Finance and Information Technology Professionals ch00_FM_4621.qxd 1/24/06 12:09 PM Page i ch00_FM_4621.qxd 1/24/06 12:09 PM Page ii Sarbanes- Oxley Guide for Finance and Information Technology Professionals. 20743 Library of Congress Cataloging-in-Publication Data Anand, Sanjay. Sarbanes- Oxley guide for finance and information technology professionals / Sanjay Anand. p. cm. Includes index. ISBN-13: 978-0-471-78553-8