disadvantages of flowcharts in SOX process?
- mahleezahLv 71 decade agoFavorite Answer
It would seem that the maleable, frequently-changing dynamics of the factors involved would make it both time-consuming and quickly obsolete.
" When the dust began to settle from a
flurry of corporate accounting scandals that plagued the United States
between 2001 and 2003, the Sarbanes-Oxley Act of 2002 hit the books. In the
rush to meet the law's looming deadline requirements, many companies
focused on compliance rather than long-term sustainability of their
certification program, says Michael S. Hugh. His new book, "Sustained SOX:
A practical guide for implementing a sustainable Sarbanes Oxley process -
Volume I of III" (now available through AuthorHouse), focuses on the
critical elements required to develop a sustained SOX program.
"Many companies established a special project team to develop,
implement and assess the required internal control framework because of the
short implementation date required by the law," Hugh explains. "This team's
primary focus was compliance and ... in year two of the certification, many
organizations discovered that the SOX effort was not sustainable without
the right process - and because of this they incurred unplanned and
unwelcome additional expenses."