Sarbanes Oxley Enforces Regulatory Compliance
What is the Sarbanes-Oxley Act of 2002?
Corporate scandals of various forms have maintained public and political interest in the regulation of corporate governance. These scandals led to the enactment of the Sarbanes-Oxley Act in 2002, a U.S. federal law intended to restore public confidence in corporate governance. An important aspect of corporate governance is mitigating or reducing the amount of risk that is involved. Through corporate governance, scandals, fraud, and criminal liability of the company can be prevented or avoided altogether.
Corporate governance includes the processes through which corporations' objectives are set and pursued in the context of the social, regulatory and market environment. Governance mechanisms include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders.
Process for Progress
One of the cornerstones of the K2 Compliance™solution is its inherent workflow capabilities. Business process optimization (or BPO) is defined as improving an organization’s performance by managing and optimizing a business process. As its primary purpose, K2 Compliance™ is a BPO resource that allows any organization with the ability to create, deploy, measure, analyze, and improve those processes at its organization that mitigate the risk associated with daily efforts and activities practiced to protect and organize accounting information. Once these efforts and activities have been refined, K2 Compliance™ provides an organization with oversight to control these newly honed processes.