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Sarbanes-Oxley News
Article:
Pressures Build for Continual Focus On Risk
A recent study of the internal audit profession reveals a number of trends related to risk assessment, with the most notable being a lack of consistency. Eighty percent of respondents reported they conduct an annual enterprise-wide risk assessment, but only a few reported focusing on continuous assessment. This study also found that audit groups reporting to the CFO spent more time on Sarbanes-Oxley (SOX) compliance, than those reporting to the CEO. Also, when internal audit reports to a level below the CFO, the time commitment to SOX compliance increases dramatically. The Sarbanes-Oxley Act requirements almost demand that enterprise risk assessment be done continuously. Finally, rotational staffing was found to be a good source of talent to help internal auditing challenges related to a lack of capacity and capabilities.
The Sarbanes-Oxley News Article
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
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