The Sarbanes-Oxley Act (SOX) was legislated for the protection of investors at the capital market. SOX requires an extensive verification of the efficiency of internal controls from all companies listed at American stock exchanges.

As well in the IT area as in the financial department existing control systems must be expanded systematically to achieve SOX compliancy and maintained afterwards. For the correctness of SOX statements and the efficiency of SOX controls the management is liable personally!

For the concerned companies the achievement of SOX compliancy is associated with considerable effort. Therefore the compliance process should be built efficiently and the compliance costs should generate a concrete value e.g. in form of competitive advantages.

NOVOSEC answers effectively operative questions arising in conjunction with SOX compliancy:

• How can I improve my internal control system?
• How must I document my business processes with respect to SOX?
• What are the criteria for non-compliancy and vice versa?
• What should the cooperation between my staff and SOX consultants look like?
• Is the standard of segregation of duties observed in my company?
• Which subsidiary companies are in the scope?

Globalised markets require solutions with effects beyond national frontiers. Therefore, acts similar to SOX like the EU 8th directive are in preparation for Europe.