Question

1.) Compliance to what?
2.) Why must/should businesses comply?
3.) In light of the fact there was already an entire volume of law regarding compliance and reporting why then did we have to come up with SOX?

Answer 1

Q 1/2: Generally, the word compliance means simply following the rules of the business, such as specifications, policies, laws. Objectives are meant to ensure that compliance with the rules is conscious and to comply with the given rules.

Compliance means the ability to comply with the rules and explain them. It is their duty to comply with the business and their employees to identify and establish regulatory responsibility. The compliance objectives of the Compliance Officer need to ensure that an organization has internal control systems that adequately measure and manage the risks it faces.

The officer's generally compliant responsibility in this regard is to provide professional compliance services that perform their duties and effectively support the business sectors, in compliance with relevant regulations and internal procedures. Compliance ensures that customer loyalty also appears to help, as customer service is often provided by a trusted customer.

Q 3: The Sarbanes-Oxley Act of 2 became known under the US Senate as the "Public Company Accounting Reform and Investor Protection Act." But this same law also appears in the House of Representatives, called the "Corporate and Auditing Liability and Accountability Act." Sarbanes is also referred to as Oxley, Surbox or SOX.

The law on how iOS managers should and should first understand the need for SOX compliance by building their organization first is clear for data management, reporting, and secure business in each department.

One solution is how controls are managed under SOX compliance. Although SOX does not mention the security of information, it does seem to have some kind of protocol related to facilities to understand your financial accounting for practical reasons or internal controls. The Sarbanes-Oxley Law appears to be over 60 pages long. And beyond that, many concepts, committees and laws have been formulated about the process of accounting.