Audit Trail Celebrates Fifth Anniversary of Sarbanes-Oxley
Audit Trail Celebrates Fifth Anniversary of Sarbanes-Oxley
June 28, 2007 - Reston, VA
Audit Trail (www.approva.net/audittrail), the official blog of Approva® Corporation, will celebrate the fifth anniversary of the passage of the Sarbanes-Oxley Act of 2002 (SOX) by publishing expansive editorial coverage of a number of SOX-related topics throughout the month of July.
Responding to a series of high-profile corporate financial scandals, Congress passed the Sarbanes-Oxley Act in July 2002, “to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.” Since it was signed into law on July 30th 2002, public companies have significantly increased their focus on governance, risk and compliance (GRC) while investors, executives, auditors and analysts have debated whether the benefits of the law justify the burden it imposes on companies.
“The Sarbanes-Oxley Act served as a catalyst that changed the way public corporations around the world are managed,” said Approva CEO Prashanth “PV” Boccasam. “This upcoming fifth anniversary provides an excellent opportunity to take stock of SOX’s impact to date and examine how the GRC programs and initiatives that the law spawned will play out in the coming years.”
During July 2007, Audit Trail will recognize this anniversary by expanding its insightful, albeit sometimes lighthearted, discussion of SOX-related topics. Planned features on Audit Trail include a variety of executive perspectives on SOX which will delve into the law’s impact on the marketplace and the workplace; retrospectives on how SOX has affected business, audit, and reporting processes; “Where Are They Now?” articles on individuals who have achieved SOX-related notoriety; and a few tools to help you mark the fifth anniversary of SOX.
To kick off the coverage, Approva has launched a survey designed to gauge the impact of SOX over the past five years. Results will be posted on Audit Trail during the second week of July. To participate in the online survey, you can click the link on Audit Trail.
Contributors to Audit Trail over the coming month will include Phil Livingston, who authored portions of SOX and currently serves as Approva’s vice chairman; Harvey Pitt, an Approva board member who is now CEO of Kalorama Partners and formerly served as chairman of the Securities & Exchange Commission (SEC) when SOX was enacted; and Michael Cangemi, president and CEO of Financial Executives International (FEI), the preeminent association for CFOs and other senior finance executives.
Audit Trail can be viewed at www.approva.net/audittrail).
About Approva
Approva® Corporation is the industry-leading provider of governance, risk and compliance (GRC) software and is the continuous controls monitoring standard for half of the Big-4 audit firms. We enable business, finance, IT and audit professionals to automate and strengthen business and IT controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy applications. Global companies such as Bayer, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net.