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.
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and the receipt date. Approval to pay a supplier?s invoice relies on the agreement of certain information in line with a company?s procedures. If one piece of this data is introduced from a custom source, internal controls are exposed, and the system is open to mistakes, incorrect payments, and even fraud. The compliance legislation expects managements to test and document internal controls. This is one area where those tests are vital. The most revealing information from these benchmarks was that, in