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Enacted as Federal response to accounting scandals at companies such as Enron, Tyco International, and WorldCom, reforming the way public companies report financial information. |
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Focuses on the effectiveness of a organization’s internal controls (Section 404) |
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Although lacking specifics about the IT technologies required, emphasizes the need for systemic solutions such as robust access controls, data encryption, and detailed audit trails. |
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Implies that CEOs and chief financial officers who are signing off on the validity of financial data must be sure that the systems maintaining that data are secure. |
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