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Sarbanes-Oxley requires companies to track document usage and quickly produce original documents with information on who has accessed them. Traditional paper storage prolongs this process, and conversion from paper to digital systems is a common way to deal with the problem.
In a recent poll conducted by Boston-based AMR Research, 85 percent of the 60 public companies surveyed said they plan on modifying their information technologies systems because of compliance regulations.
Sarbanes-Oxley Section 404
A central part of the Sarbanes-Oxley Act, Section 404 requires decision makers to produce an annual report about internal controls, such as operating procedures and policies, attested by external audit firms. DocPoint addresses section 404 by:
- Assisting in managing financial controls through real-time access to key information across your business.
- Promoting collaboration, knowledge sharing, and better communication.
- Enhancing security by employing compartmentalization policies and creating audit records about who has retrieved sensitive information.
Sarbanes-Oxley Section 802
Addressing Sarbanes-Oxley Section 404 imposes criminal penalties for failure to comply with record-retention policies. To meet these requirements, you can extend the same DocPoint infrastructure used to address Section 404 requirements.
Compliance becomes easier to practice and demonstrate when applying DocPoint’s approach to record life-cycle management -- including retrieval, archival and destruction. DocPoint allows you to build a high-performance record repository that includes content such as audit, review, and supporting documents.
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