SOX requirements for Order Agreements 1298
johnkenney last edited by
We are in the process of simplifying our Order Agreement, the legal document that describes the terms and conditions for financing and maintenance of our products. By eliminating language that is considered onerous by our clients, we will improve their contracting experience but we may assume more risk.
For example, if we eliminate language that requires our clients to authorize on-going access to their credit reports, we run the risk that some clients will not meet our credit guidelines. However, if the financial risk involved is small, we may want to make the change.
Does Sarbanes-Oxley make any requirements about the contract language between a firm and its clients? Do changes to the language need to be evaluated with SOX in mind?
Denis last edited by
Does Sarbanes-Oxley make any requirements about the contract language between a firm and its clients?
kymike last edited by
Agreed. This does not seem to have an impact on your financial reporting which is the primary focus of SOX 404.