SOX COMPLIANCE FRAMEWORK. IT & Computer Science Essay (Essay Sample)

SOX COMPLIANCE FRAMEWORK
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Compliance with SOX is not only a legal requirement but also a profitable business practice. Corporations should, of course, act ethically and restrict access to sensitive financial systems. But the introduction of SOX financial protection measures has the side advantage of also attempting to protect the company by internal threats or a cyber attack against data theft. SOX enforcement will incorporate many of the same activities as any program for data protection. According to Tham & Madni (2017), "Since the passage of the SOX Act, companies are facing even greater challenges to meet raised expectations to provide accurate, visible, and timely information for SOX compliance." SOX needs formal policies for data protection, data security policy communication, and useful information security policy implementation. A robust data management policy that safeguards and protects all financial data stored and used during normal operating conditions should be developed and enforced by businesses.