Sarbanes Oxley Essays

Sarbanes Oxley Essays-14
The creation of these laws generally follows three steps: In Step (2), regulators attempt to bring those externalities into the organization.

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The four laws specify varying requirements, but all share the following common mandates for organizations: But like most legislative actions, the laws are vague and imperfect.

Some provisions are simply too much for organizations to implement, others are just poorly worded.

Each of these laws imposes strict requirements on enterprises to establish or identify, document, test, and monitor "internal control" processes.

Since most, if not all, of these processes are supported by information technology, these laws have an enormous impact on a company's network security decisions.

The problem is that many security risks are not borne by the organization making the purchasing decision.

An organization might be perfectly rational about securing its own networks against threats like theft of proprietary information and business interruption.Just as I advocate software liability as way to bring the externalities of insecure software into the decision-making process of the software manufacturer, I see these data privacy laws as a way to force organizations to take personal data security protection seriously.Over the past 10 old ages we have been exposed to a series of fiscal dirts.It is by and large called the Sarbanes-Oxley ( SOX ) Act and was put in topographic point in order to modulate the answerability of fiscal studies and prevent hazards happening However, the deployment of SOX conformity costs a batch of money, resources and attempts.It non merely affects the finance section, but besides the information engineering ( IT ) section.Traditionally, security products and services have been a fear sell: fear of burglars, murders, kidnappers, and -- more recently -- hackers.Despite repeated attempts by the computer security industry to position itself as a greed sell -- "better Internet security will make your company more profitable because you can better manage your risks" -- fear remains the primary motivator for the purchase of network security products and services.This is the proper backdrop to understand the recent spate of privacy laws.The goal of these laws is to bring those externalities into the decision process by adding an additional fear motivator: fear of lawsuit, fear of criminal penalties, fear of being out of compliance.The results presented in my third essay show that companies audited by non-Big4 auditors are less comparable than the companies audited by Big4 auditors.Non-Big4 auditors are thus less likely to be able to apply the same audit process to multiple clients.

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