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Compliance: Bigger than SOX

Home › Compliance › Compliance: Bigger than SOX

By Dick Weisinger

Take cover!  More regulations are on the way.  Gradually the pendulum had been slowly swinging towards less stringent enforcement of compliance after the shock of the enactment of SOX.  As a  result of the financial meltdown, regulators are working on stricter enforcement.
“I reckon the impact of these new regulations has the potential to be much, much bigger than Sarbanes-Oxley,” says Forrester Research. “The push for new regulation will be enormous. When you look at the amount of people affected by Enron and WorldCom, it’s small compared to those affected by the current financial crisis. IT will have to be involved in a big way.”

Expect more regulations around corporate auditing.  And expect banks and financial companies to be required to have better process around how they use and evaluate data to make their business decisions.  It’s still too early to know the exact nature of the new rules, but it’s not too early to start preparations for compliance.

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April 27th, 2009
Category: Compliance
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