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.
and, hence, driving down outsourcing contractor fees. Much has been written about outsourcing, and it is not the purpose of this document to add to that particular debate. However, it is essential to fully understand the legal responsibilities for compliance when planning to outsource an ERP system. The bottom line is that an enterprise cannot outsource compliance of the system. Therefore, the outsource contract must include all the necessary processes for both parties to adhere to the relevant