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Sarbanes-Oxley News
Article:
More nonprofits aspire to SOx accountability standards
Sarbanes-Oxley (SOX) is a corporate governance law that was enacted after high profile scandals in the corporate world and applies to companies with public listings. SOX compliance demands that these companies have appropriate financial processes in place and that they then have these audited by an outside firm. Nonprofits are increasingly adopting standards similar to those prescribed for Sarbanes-Oxley compliance. Sarbanes-Oxley's Section 404, for example, mandates that companies have internal controls in place to increase transparency for investors' sake. Nonprofits believe that donors will similarly respond well to these new measures. Some states are also requiring Sarbanes-Oxley-like compliance measure. Another driver of this trend is that many directors of nonprofit boards work in the business world and are familiar with and have bought into the benefits of SOX compliance.
The Sarbanes-Oxley News Article
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Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
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