Sarbanes-Oxley (SOX) Auditing

The Sarbanes-Oxley (SOX) Act, passed by the US Congress in 2002, represents a fundamental shift in corporate governance norms. As corporations come to terms with the implications of SOX to their businesses, one thing is clear: a SOX compliance program is not a one-time project but a sustained effort to gain visibility and accountability into business processes that affect the accuracy of financial reporting. Most IT controls are manual, error prone and resource intensive.

Solidcore S3 Control has helped a number of customers solve this issue by building a self-service, automated IT control framework in which all the information required to verify compliance is available in a single reporting system, at the click of a button. Solidcore’s real-time change detection capability along with its automated and highly accurate change reconciliation provides an automated way to validate changes against authorizations. Out-of-process changes (for example, emergency fixes) are automatically documented and reconciled for easier auditability.

Customers using Solidcore S3 Control for SOX auditing have realized significant benefits both in terms of reduced risk as well as reduced cost. In most cases, the first phase of benefits comes in the form of automating currently manual controls. The second phase of benefits comes from rationalizing and reducing the control set, based on demonstrating to auditors that control capabilities are built into the fabric of the environment.

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