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What is the single most challenging Sarbanes-Oxley issue today?


The need to track the actions of users inside a company has greatly increased the amount of data that entities must collect to ensure a complete view of all activity.
Jim Pflaging
President and CEO
SAS Institute

The last decade has seen events that have broken the trust in corporate America and sparked a whirlwind of change in how we all do business.
James Goodnight
InfoStep, Inc.

Companies have to increase the control awareness among the operational management and empower them for the ongoing governance activity.
Sagar Anisingaraju

Many companies are approaching compliance blinded by the pain, which drives them towards a solution-in-a-box approach for a too narrowly defined and over-simplified problem.
Ted Frank
IMERGE Consulting

Relative to technology, Sarbanes-Oxley is both a curse and a blessing ? a curse, because technology is what made it possible to enforce SOX compliance and pass the legislation into law to begin with . . .
Arthur Gingrande
ZipLip, Inc.

Hidden in the glare of other spotlights is the monitoring function, needed for continued compliance and effectiveness of controls.
Kon Leong
CharacTell Ltd.

Perhaps the most serious aspect of Sarbanes-Oxley to management is that in order to comply, one has to prepare for, protect from, and even defend, the unknown.
Paz Kahana

Complacency stems from those who view Sarbanes-Oxley as a "documentation problem." The reality is that Sarbanes-Oxley is a business problem ? and a business opportunity as well.
Prashanth Boccasam
President and CEO

While control analytics address the structured data upon which compliance is based, significant unstructured data requirements remain.
Martin Brauns
Paisley Consulting

The next challenge is finding a sustainable solution that distributes responsibility for monitoring of controls to the appropriate managers . . .
Tim Welu
President & CEO
ACL Services

Characterized by high volumes of transactional data that are dispersed across multiple applications, the operational control environment is the most costly and difficult to document and test.
Harald Will

Companies are quickly realizing the need to turn their resource-intensive Sarbanes-Oxley 404 "projects" into ongoing "processes."
Robert Olson
President and CEO

There is no out-of-the-box software solution for meeting the requirements of Sarbanes-Oxley, and frankly I think a lot of software companies are overpromising in this regard.
Rob Ashe
President and CEO
Oversight Systems

This ongoing monitoring of controls demands a new level of transparency into all transactions within financial systems.
Patrick Taylor
MetricStream, Inc.

Without the use of enabling technology, such a manual approach would have to be repeated every year . . .
Shellye Archambeau
SourceSentry, Inc.

. . . the new challenge for CFO's today, is how to ensure that these outsourced programs will still comply with Sarbanes-Oxley requirements.
Sridhar Balaji

The shared challenge among all of these issues is the need to rapidly deploy solutions in order to meet the government-mandated time requirements.
Greg Dukat

A far more serious issue for corporations is the lack of mechanisms to monitor, enforce and improve controls.
Eric Keller

Buy-in starts with education. Management must educate the organization regarding the importance of controls and compliance for legal compliance.
Trey Swain
Thor Technologies

One of the first and most critical internal controls that must be met is the ability to determine who in the organization has access to what, and why. . .
Alberto Yepez

The challenge at any point in time has reflected the maturity of the implementation process cycle . . .
Frank Hailstones
Clearview Strategic Partners

Even with all the internal controls, checks and balances and sophisticated technological solutions, it is still the human side of enterprise that . . .
Ron Paquette

The most significant challenge is meeting regulatory requirements and implementing a governance best practices model while enhancing competitiveness.
Thomas Hogan
President and CEO
Scientific Software

The fact is, we see many public companies struggling to build a sustainable infrastructure of internal controls, supporting technology, and best practices. . .
Soheil Saadat
President and CEO
ZyLAB North America

The attention meter is on throughout corporate America to address SOX.
Johannes Scholtes
Active Reasoning

Ultimately, the external auditor has the final say on compliance requirements.
Marv Tseu
Consul Risk Management

Organizations are often fooled into thinking Sarbanes-Oxley is simply a technology challenge and installing one piece of software is the panacea.
Joe Sander

For those in the thick of the compliance process, it has become clear that IT plays a significant role in internal control.
Rajeev Khanolkar

Turning Sarbanes-Oxley Compliance Into A Strategic Advantage
Michael Duffy
President and CEO
Arsenal Digital Solutions

Companies and their executives will bear the burden of proof to demonstrate that records or documents have not been intentionally or unintentionally altered or destroyed.
Frank Brick
Appian Corporation

Documenting, testing and evaluating the control environment was a daunting task when it was considered to be a one time event. With companies now realizing that Sarbanes-Oxley compliance is a continuous process, the task is even greater.
Matt Calkins
Ecora Software

Internal audit departments and financial management initially drove the compliance effort. However, once the scope of the Sarbanes-Oxley requirements were clearly understood, IT management became central to the compliance effort.
Alex Bakman
Founder and CEO

The most challenging thing about SOX compliance is the ability of an organization to align legal liabilities and IT security initiatives together with key business goals.
Patrick Harr
Essential Security Software

In today's age of growing security concerns and increased regulations, protection and control over internal and outbound financial data is a critical component of an overall compliance solution.
Ray Zambroski
President and CEO
Trusted Network Technologies

Nobody challenges the intent of the Act, rather they argue about the costly and unpredictable means to an ill-defined end. Nonetheless, the IT component must be automated (via Identity Management Tools) and made real-time so that in year two, the IT audit results can be computed in seconds rather than in millions of dollars.
Steve Gant
Founder & CEO
Object Management Group

The unclear and shifting interpretation and impact on IT systems create an "unfunded mandate" on the CEO, CFO and CIO to keep up constantly as the rules get clarified.
Richard Soley
Chairman and CEO

Grinding through the complicated and financially burdensome determination and implementation phase and reaching the point where the SOX framework of systems, controls and policies becomes transparent to the business as a whole and can be effectively leveraged to consistently capture measurable competitive advantage.
Gregory Salvato
170 Systems

While the rush to achieve initial compliance has passed, companies are still faced with the relative complexity of their financial business processes.
Dave Ellenberger
President and CEO
Elemental Security

Organizations have to adopt much more efficient processes to provide easy, timely access to relevant compliance information.
Peter Watkins

What organizations need today, more than anything, is a way to automatically, easily and instantly know whether they're operating in compliance.
Susan Nash
President and CEO

Adapting ILM principles to regulatory realities is an important, critical step.
Kate Mitchell
Manakoa Services Corporation

Best results are achieved by combining people, policy and technology.
Robert Williams
CEO and Director

Technology is implemented to safeguard the network and critical applications in order to focus on servicing customers and generating revenues.
Roy Zisapel

I see two primary challenges. The first is extracting technical requirements from non-technical regulation and the second is synchronization of departments.
Rajat Bhargava
Business Propulsion Systems

SOX's biggest roadblock within a large organization has to do with the shift in culture that involves thinking of your job in terms of risk to the organization at large.
Mark Opausky
Rivet Software

Improvements in the way financial data is reported and maintained gives a boost to both investor confidence and public perception, but it is imperative that businesses put in place tools that make Financial Integrity Management cost effective and efficient.
Mike Rohan
President and CEO
Hummingbird Ltd

The real Sarbanes-Oxley challenge for publicly-traded companies is the additional level of introspection and process review needed to demonstrate that legally-mandated corporate governance programs have been established.
Barry Litwin
President and CEO
Breach Security

This is a challenge which isnt taken seriously enough, except by those unfortunate companies who have had to deal with the problem in the past.
John Payne

When companies have a complete record of each invoice, they can easily uncover fraud or overpayment and can ensure that checks are approved correctly and assigned to the right cost centers.
Illka Sihvo
Emagia Corporation

An Emerging Area of Focus for SOX Compliance Credit Risk and Receivables Management
Veena Gundavelli
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