Student in need of help understanding SOX _and_amp; data storage 453

  • Hi guys.
    Could anyone try and explain to me (in layman’s terms) how SOX typically affects the storage of data, and what they foresee as being the biggest problem in that area?
    I’m doing a final year dissertation on the future of data storage management, and as part of my literature review I am looking at the key drivers of data growth - legislation being one of them. I’ve spent most of the past 2 days trying to read up on the subject, but it’s tough to understand all the ‘management jargon’ having never worked in industry. :oops:
    If anyone could give me a run down of the main points and concerns I would be SO appreciative. 😄
    Even some links to other resources would be fantastically helpful right now, haha.
    Thanks in advance.
    Andy 😄

  • I don’t think Sox will effect the storage of data. It will effect who can Create, Read, Update, Delete (CRUD) data elements. So you will need to implement a good security mechanism. Google for BS7799

  • In addition. The standard rules for retention of data still apply as they allways did.

  • Ah I see…perhaps I mis-understood.
    I was of the impression that before SOX came into effect, the only industries that had to worry about data retention periods were Financial Services, Healthcare, Life-Sciences, and Pharmaceutical companies?
    Was I wrong in thinking that?

  • Was I wrong in thinking that?
    In short, yes.
    Your records retention has to satisfy the SEC (for public companies) and the IRS and/or other tax authorities (for all companies).

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