ppn…aids public companies with Sarbanes-Oxley Act (SOX) compliance!

The Sarbanes-Oxley Act of 2002 (SOX) was passed as the cornerstone of Federal regulators’ efforts to enhance control of accounting in publicly held companies and to hold chief executives responsible for misrepresenting a company’s financial situation. Although Sarbanes-Oxley is U.S. legislation, regulatory compliance is a global issue. Companies worldwide that do business in the United States are required to comply with the Sarbanes-Oxley Act, and recently U.S. style auditing rules were recently announced in the European Union.

 

Publicly traded companies face significant challenges and resource investments and Sarbanes-Oxley has proven to be far more complex and has required companies to make many more changes in control and compliance than was originally anticipated.

Although Sarbanes-Oxley is focused upon issues of accounting and financial controls within that context is the requirement that the accounting and financial information of a publicly held company not be release to unauthorized parties prior to an official public release of the information. With Sarbanes-Oxley the criminal penalties and civil liability for unauthorized release or compromise of a public company’s accounting information has been significantly increased.

ppn provides every public company with the capability to securely, in encrypted format, transfer and share sensitive and confidential financial information between authorized parties, including both internal and independent outside accounting professionals, independent Board Members, Audit Committee members, internal and outside legal counsel, financial institutions, underwriters and other authorized parties in full compliance with the intent of Sarbanes-Oxley.