| Sarbanes-Oxley Act - Wikipedia, the free encyclopedia (1692 words) |
 | One key element of the Act is to require a report of the internal controls a company has in place to ensure compliance with the Act itself. |
| The main point of these guidelines is that management should use an internal control framework such as COSO (which describes how to assess the control environment, determine control objectives, perform risk assesments, and identify controls and monitor compliance). |
| Systems such as ERP (Enterprise Resource Planning) are deeply integrated in the initiating, authorizing, processing, and reporting of financial data. |
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