Resources for Sarbanes-Oxley (SOX)

http://www.americanchronicle.com/articles/viewArticle.asp?articleID=43508

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Sarbanes and Oxley Act of 2002 (SOX or "Sarbox") has mandated stringent auditing requirements for public companies across America. The Act aims to prevent lax documentation and auditing fiascoes that can (and did) bring down important public corporations, with untold damage to the economy and the shareholder public.

Record keeping and seamless documentation of expenses are at the heart of good SOX compliance. The results are audited by both internal and external auditors. If any "significant" documentation shortcomings cannot be fixed within a matter of months, the corporation might be forced to report it in its annual report, which would of course damage shareholder trust and peril the company's future.

Since travel and expense is a major source of recurring expenditure for most corporations, it is crucial that a T&E system is in place to insure correct record keeping, policy auditing, expense approving and report generation at all levels within the organization.

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