White Papers for Sarbanes-Oxley (SOX)

Fraud in a Post Sarbanes-Oxley World: Five Critical Steps to Seal the Gaps

Harris Monroe Consulting

As the economy weakens, Internal Audit Directors, Audit Committee Members, Corporate Executives and General Counsel need to identify and address additional risks. Specifically, as basic necessities such as gas and food become increasingly more expensive, there is additional pressure on employees to misappropriate company assets and cash. If an employee is faced with a possible home foreclosure, corporate ethics and employee loyalty may become very unimportant. The bottom-line is that when food and shelter are threatened, employees may not have to mentally leap very far to rationalize taking company assets and cash.

Sarbanes-Oxley (SOX) compliant organizations might be tempted to believe that their compliance efforts will adequately protect them from the increased risks presented by the current economic environment. While Sarbanes-Oxley has helped organizations reduce occupational fraud some, this white paper will demonstrate that there are still great opportunities for improvement.

In these demanding times, corporate organizations must use more aggressive and thorough tactics to identify instances of occupational fraud. Internal Audit Directors, Audit Committee Members, Corporate Executives and General Counsel are entrusted with the duty of protecting investors’ assets. To this end,
these stewards of the public trust must employ technologies designed to evaluate every transaction for likely forms of fraud.

This white paper will discuss how organizations can elevate their vigilance against occupational fraud in spite of the pressures of the worsening economy.

View the White Paper

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