The Sarbanes-Oxley (SOX) act, passed in 2002, is still a foundational regulation when it comes to financial reporting in the US – designed to enforce a degree of leadership accountability in regards to public disclosures. Principally, it establishes that “the CEO and CFO are directly responsible for the accuracy, documentation and submission of all financial reports as well as the internal control structure”.
This means that corporate leadership is directly responsible if fraudulent or misleading reporting is submitted on their behalf, carrying a maximum penalty of “upwards of $5 million in fines and 20 years in prison.”
The stiff penalties included within this legislation show how important it is for organizations to ensure their records have not been altered. This is where Connecting Software’s Truth Enforcer comes in – it can create a “digital seal” on any document that can be verified at any time and will show if even the smallest alteration is made. This provides critical peace of mind that when a final financial report is made, an organization can have certainty on which document is the authoritative version – even against sophisticated fraud attempts.
Truth Enforcer helps prevent common errors that occur with version control and unauthorized editing, which are often present when large amounts of users are able to access a single document. It allows leadership to easily seal and verify the finalized version in seconds – making organizations much more resilient to the effects of tampering.
With something as critical as financial reporting – it's best not to leave security to chance. Truth Enforcer equips companies to maintain the integrity of their financial reports while safeguarding the interests of their executives and employees.
Reach out to Connecting Software today for more information: https://www.connecting-software.com/
This means that corporate leadership is directly responsible if fraudulent or misleading reporting is submitted on their behalf, carrying a maximum penalty of “upwards of $5 million in fines and 20 years in prison.”
The stiff penalties included within this legislation show how important it is for organizations to ensure their records have not been altered. This is where Connecting Software’s Truth Enforcer comes in – it can create a “digital seal” on any document that can be verified at any time and will show if even the smallest alteration is made. This provides critical peace of mind that when a final financial report is made, an organization can have certainty on which document is the authoritative version – even against sophisticated fraud attempts.
Truth Enforcer helps prevent common errors that occur with version control and unauthorized editing, which are often present when large amounts of users are able to access a single document. It allows leadership to easily seal and verify the finalized version in seconds – making organizations much more resilient to the effects of tampering.
With something as critical as financial reporting – it's best not to leave security to chance. Truth Enforcer equips companies to maintain the integrity of their financial reports while safeguarding the interests of their executives and employees.
Reach out to Connecting Software today for more information: https://www.connecting-software.com/
