Nishidhdha,
You must be knowing what happend with Enron. Sarbanes Oxley Act came to avoid
such embezzelments in the future. The act by sponsored by 2 senators Sarbanes
and Oxley aim to protect investor interests by improving accuracy of financial
reportings, controls and other corporate disclosures. Under Sarbanes Oxley the
CEO is personally accountable for all the financial reports/statements and can
be sentenced to severe penalties in the event of non compliance.
Though mostly related to finance, Sarbanes oxley has a strategic implication on
the security professionals. Without CIA of corporate data, Financial controls
are meaningless. Since CEO will be personally accountable under this law,
Sarbanes Oxley short circuits the Senior Most Management and the CISO of the
organization.
For further reading, here are a few pointers for you. Ask me if u need more :
The actual law :
http://news.findlaw.com/hdocs/docs/gwbush/sarbanesoxley072302.pdf
Implementation Time lines :
http://www.pwcglobal.com/Extweb/NewCoAtWork.nsf/docid/D0D7F79003C6D64485256CF30074D66C/$FILE/Timeline_Stand_Alone_Final_2.pdf
Nishidhdha <nishidhdha@yahoo.com> wrote:
Can anyone explain what the Sarbanes-Oxley 2002 Act is in few words
Thanks,
Nishi
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Best Regards,
WAQAR MEHBOOB
Assistant Manager
Information Security & QA
Abu Dhabi Commercial Bank
Abu Dhabi,United Arab Emirates
wmehboob@hotmail.com
Cellular : 050 5952279
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