IT managers should take ‘holistic’ view of compliance, says Tower
Massachusetts -- A new Tower Group report on the technology requirements of financial institutions that are subject to the Sarbanes-Oxley Act recommends that IT managers take a more "holistic" view of the systems required for compliance, instead of lurching from deadline to deadline.
The report, authored by senior analyst Virginia Garcia, says that three sections of the act -- management sign-off on veracity of financial statements (section 302), internal controls over financial reporting (section 404) and real-time reporting to translate into two-day reporting of material weaknesses (section 409) -- are the most technologically intensive to implement.
However, the three
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