SOX requirement for Invoices 2839



  • Please could you confirm if in terms of SOX it is necessary for a Tenant to be provided with a hardcopy rent invoice for the monthly payments due under a commercial lease. If so, can you quote the Regulation No. and where I can find a copy for reference purposes. Is it ok for rents to be paid by direct debit with no Invoice issued by the Landlord? Thanks.



  • Please could you confirm if in terms of SOX it is necessary for a Tenant to be provided with a hardcopy rent invoice for the monthly payments due under a commercial lease. If so, can you quote the Regulation No. and where I can find a copy for reference purposes. Is it ok for rents to be paid by direct debit with no Invoice issued by the Landlord? Thanks.
    I don’t believe that there’s a requirement for a hard copy invoice from the landlord. However, all transactions must be supported by some form of evidence.



  • I agree with risys82 that electronic evidence from email or an automated financial support system can provide the necessary evidence. SOX has flexibility to support both hard copy or electronic versions of evidence, as long as controls and timestamps are in place to prevent tampering with any evidence. The key is to ensure good controls and accountability of transactions and I see hard copy actually as a last resort.



  • I agree with the above posts. The rental agreement (and subsequent modifications) is the document that drives rent billings. If you have tenants that automatically pay, you should not need to generate paper invoices or send anything to the tenants. However, if you have tenants that need reminding, then sending monthly invoices/reminders/statements would be a good billing practice to have in place to help ensure timely cash collections.
    SOX is not prescriptive for any controls. It is a general set of guidelines that requires an annual assessment of the effectiveness of controls by those companies subject to its rules.



  • I am currently doing research on J SOX, do anyone have a sofy copy of the J SOX act? If yes, can you please email to me at ksong771_at_hotmail.com


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