Mastering Sox Compliance Requirements: Essential Controls You Must Know!
The top IT SOX controls and requirements
Sarbanes-Oxley is arranged into 11 titles. As far as SOX compliance is concerned, the most important sections within these are often considered to be 302, 404, 409, 802 and 906.
Section 302 - Corporate Responsibility for Financial Reports - Every public company is required to file periodic financial reports with the SEC, and the principal executive officer and the principal financial officer must sign each report to indicate they have reviewed it and they certify that the report does not contain any untrue statements and does not omit any material information. In addition, the signers of the report are responsible for establishing and maintaining internal sox controls and must have validated those controls within 90 days prior to issuing the report.
Section 404 - Management Assessment of Internal Controls - All annual financial reports must include an Internal Control Report stating that management is responsible for an “adequate” internal control structure, and an assessment by management of the effectiveness of the control structure. Any shortcomings in these SOX controls also must be reported. In addition, registered external auditors must attest to the accuracy of the company management’s assertion that internal accounting controls are in place, operational and effective.
Section 409 - Real Time Issuer Disclosures - Companies are required to disclose to the public in a timely manner any material changes in the financial condition or operations of the company in the interest of protecting investors and the public.
Section 802 - Criminal Penalties for Altering Documents - Anyone who knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of matters before the SEC can be fined, imprisoned for no more than 20 years, or both.
Section 906 - Corporate Responsibility for Financial Reports - The criminal penalty for certifying a misleading or fraudulent financial report can be upwards of $5 million in fines and 20 years in prison.
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✅Agenda of the Session
✔️Domains of SOC
✔️Market Trend & Demands
✔️A Day in SOC
✔️SOC Services
00:00 Introduction
00:08 Agenda
02:10 Domains of SOC
15:08 IBMQradar
16:35 Domains of SOC
30:48 Incident Response
49:15 Threat Intelligence
53:00 Pyramid of Pain
56:10 Digital Forensics
59:28 Threat Hunting
01:02:10 Market Trends and Demands
01:13:35 A day in a SOC
01:17:15 SOC Services #CyberSecurity
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