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Sarbanes-Oxley: CIO “Best Practices”

Sarbanes-Oxley: CIO “Best Practices”. Stuart Robbins Founder and Executive Director The CIO Collective http://www.cio-collective.com. Sarbanes-Oxley & The CIO. Overview Trust Governance Quick Wins IT “Best Practices” Do’s and Don’ts Some additional information….

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Sarbanes-Oxley: CIO “Best Practices”

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  1. Sarbanes-Oxley: CIO “Best Practices” Stuart Robbins Founder and Executive Director The CIO Collective http://www.cio-collective.com

  2. Sarbanes-Oxley & The CIO • Overview • Trust • Governance • Quick Wins • IT “Best Practices” • Do’s and Don’ts • Some additional information…

  3. Issue #1: Repairing the Breach of Trust • Regulation occurs in response to a breach of trust. To repair: • Ensure quality of communication. • Ensure quality of data. • Manage the user relationship. • Quality Assurance for Systems and Data • Testing, Reliability, Integrity • Trust is the basis of Knowledge Management • Survey your employees, survey your customers

  4. Issue #2: Governance and Technology • Directors are a new category of user • Authentication, collaboration, escalation tools • New vendors emerging, such as BoardVantage • IT Governance should mirror Corporate Governance • eGovernment principles suggest good strategies • Enabling communities via the Net • Automating manual processes • Portal tactics: Global vs. Personal

  5. Issue #3: 5 Things You Can Do This Quarter • Anonymous Email for Whistleblower compliance • IT Expert for Finance Organization • Cross-functional Teams for Process Improvements • Business Intelligence Portal w/special accounts • Escalation Excellence – The Template

  6. Issue #4: IT “Best Practices” are Fundamental • Change Management • Documentation must be updated: all changes • Change Control Board • 24/7 Operational Excellence • Data Governance • Executive Sanction and Involvement • Ongoing Assessment and Analysis • Owners, Drivers, and Enablers

  7. Issue #5: The Do’s and the Don’ts… • Do Not: • Do nothing. • Avoid the truth about your systems. • Do: • Get involved. • Become the expert. • Partner with Finance and Legal. • Teach your employees that everyone is responsible.

  8. To Learn More… • The Legislation • www.e-businessethics.com/H3763CR_HSE.pdf • InfoWorld Summary • www.infoworld.com/article/03/ 07/11/27FEsarboxguide_1.html • www.infoworld.com/article/03/07/11/27FEsarbox_1.html • The US Securities and Exchange Commission FAQs • www.sec.gov/divisions/corpfin/faqs/soxact2002.htm • AICPA Sarbanes-Oxley Implementation Central • www.aicpa.org/sarbanes/index.asphttp://www.aicpa.org/pubs/cpaltr/Oct2002/add.htm • PwC CFODirect clearinghouse: • www.cfodirect.com/ • ARMA Association for Information Management • www.arma.org/legislative/sarbanes_oxley.cfm • Ventana Research on Sarbanes-Oxley: • www.ventanaresearch.com/research/article.php?id=516

  9. To Learn More (con’t.)… • SIM/Baker and Mackenzie on Record Retention practices: • http://www.simnet.org/Content/NavigationMenu/Chapter-Wisconsin/Meetings4/archives/Smedg-CorpResp.ppt • Grant Thornton Resource Center for Sarbanes-Oxley • http://www.grantthornton.com/content/76480.asp • Gartner Weblog on Sarbanes-Oxley • http://sox.weblog.gartner.com/weblog/index.php?blogid=11 • Forbes.com: One year later, a review of Sarbanes-Oxley • http://www.forbes.com/execpicks/2003/07/22/cz_af_0722sarbanes.html • CIO.com • http://www.cio.com/archive/051503/rules.html • Computerworld Special Coverage • http://www.computerworld.com/news/special/pages/0,10911,2025,00.html • Whistleblower Issues • http://nilesh.org/weblog/etc/WhistleblowerProvisions2002.pdf

  10. To Learn More (con’t)… • Seminars/Vendors • www.bearingpoint.com/Events/separate_events/sarbanes.html • www.plumtree.com/reg/ws/so/ • www.hyperion.com/solutions/global_compliance/sarbanes_oxley.cfm • www.documentum.com/events/07_31_03_eseminar_aiim_doculabs.htm • www.cognos.com/products/finance/so_act.html • www.digitalthink.com/dtfs/e-learning/compliance.html • www.boardvantage.com

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