Online or Internet Banking Rights 2955

  • I have been trying for years to get online access to do bank reconiliations. Our financial statements have an early due date, and in order to get the reconciliations done earlier with enough to complete the task, I need to start them as soon as possible. Some banks they have allowed me access, but won’t give me acess to a couple of them. This company is notorious for using SOX as a crutch when it isn’t necessarily the true reason, so I am not completely sold that I can’t have access.
    I do all the bank reconciliations for approximately 35 banks accounts. There are a couple banks that do not have very sophisticated software, and have no way to give me ‘view only’ access. Because of this, my company will not grant me access to the account, as they state this would violate the SOX rules since I would have the ability to transfer funds. If granted access in these accounts, its either all, or none. However, you can only transfer funds between the two company accounts within the bank, you cannot transfer them outside the company.
    Does this seem like it is a violation of being in complient with SOX rules? I want to purue this farther, but need to find some documentation to back me up. Thanks for any advice you can offer.

  • Proper SOD would limit your access to view only if you are also performing bank reconciliations. If the bank cannot grant view only access to accounts, and that type of accecss is necessary to close your books in a timely manner, then I would strongly consider switching banks.

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