Sarbanes-Oxley/Bill C158

Accuracy and honesty in business reporting and communication.

As the tide of corporate scandals and accounting irregularities begins to ebb, executives and financial managers alike are now faced with the task of adjusting to a new set of rules and demands from stockholders and the market at large.

The days of pro-forma reporting and off-balance sheet transactions have been replaced by the realization that restating numbers or uncovering fraudulent activities within the business don’t just mean a sharp drop in the stock price. Rather, it means going to jail and paying millions in fines.

Against this backdrop, companies are being forced to take a close look at their internal operations like never before.

They are examining internal controls to determine if they have the ability to detect and take action on financial anomalies before the fiscal period ends.

They are creating huge databases to store records of communications as proof of their diligence, attention to detail, and their reactions to key business issues.

And they are looking to their IT infrastructure to help them gain insight into their business not only to comply with shortened reporting requirements to the public, but for assurance that the data they are analyzing and reporting is, to borrow a phrase, "the truth, the whole truth, and nothing but the truth.”

For an overview of how SAP BusinessObjects solutions can assist you with Sarbanes-Oxley compliance, click on the orange button on the left.