The Sarbanes-Oxley Act (SOX) of 2002 regulates financial reporting and auditing of publicly traded companies. The law establishes strict requirements for reporting, disclosure, and internal controls, and defines penalties for non-compliance.
The SOX Act forms a new structure for corporate governance, establishing higher levels of fiscal accountability for U.S. businesses. Company officers could face criminal litigation and penalties if found in non-compliance.
Organizations benefit by having a comprehensive approach to information security
- Internal threats are mitigated by increased visibility into the process of accessing sensitive data, reducing the risk of internal fraud
- Financial institutions can confidently communicate these sophisticated safeguards to auditors and shareholders
- By integrating authentication products and network encryption solutions, public company executives can have the added confidence in taking a recommended and comprehensive information security approach
Data access is controlled and threats are minimized
- Granular encryption capabilities offer sophisticated control
- Centralized key management controls access
- Field-level encryption protects against both internal and external threats
- Using detailed data logging, organizations can effectively report on the way sensitive financial data is used and managed