What jobs does SOX require? 1652

  • I was wondering what jobs a company must offer when complying with SOX. I know all about the board that requires the CEO, CFO, etc. Are there other specifically mentioned jobs that are required? I think I’ve heard about an internal contoller. If there are more, please provide a short defenition of the responsibilites of said job. Thank you.

  • Hi - This will vary by company, industry, etc … Below are some ideas on key roles and responsiblities:

    1. SOX Compliancy Manager – It’s beneficial to establish a lead role for implementing SOX requirements. This person should be thoroughly trained and be empowered to make decisions leading to a successful implementation of SOX standards. It’s good to have one single overall leader to ensure the efforts of everyone are on target.
    2. CIO or IT Manager - As the SOX 404 standards address best practices for IT security and financial system controls, the head of IT must commit to supporting these new requirements. For example, all of IT may need to adopt the COBIT 4.0 framework requirements.
    3. Core Team members - Internal Audit plays a key role in most companies and would logically be part of the SOX compliancy efforts. They would conduct sampling, testing, documentation, and other requirements.
    4. Senior Management - Must back the overall process, as it will cost the organization more USDUSDUSD and even resources to meet these statutory requirements
    5. All affected employees - Must understand the importance of SOX and as required must meet new workflow or control requirements.

  • Thanks Harry. Good info.

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