This paper examines key issues for CFOs and CEOs in managing ERP systems in the new world of SOX, IFRS, Basle II. While most IT management attention seems to be on document retention, reporting quality, and security, there are broader issues to be considered toward ensuring good governance and compliance with regulations such as Sarbanes-Oxley, IFRS and Basle II.
accounting cycle diagram
its origins in the accounting profession and a focus on accurate financial reporting. European subsidiaries of US companies will be subject to both Sarbanes-Oxley as well as IFRS. Basle II is concerned about risk and exposures in the financial services market. What they have in common is the objective to give various stakeholders timely, accurate, dependable information expressed in financial terms. They are also regulations with various degrees of bite. Because Sarbanes-Oxley was born out of financial sc