US warns against Sarbanes-Oxley complacency
IT departments should not become complacent in complying with the Sarbanes Oxley Act despite the recent postponement in reporting times requirements, warn analysts.
The US watchdog, the Securities and Exchange Commission, last month said it would delay plans to speed up filing times from 75 days, as is currently required, to 60 days.
But analyst company Gartner has warned companies affected by the new US laws not to ease up on IT projects necessary to implement the filing changes as companies will have to show an audit trail of reforms made to IT systems.
French Caldwell, vice president and director at the compliance service of Gartner, said: ‘For the 2005 budgets IT people should consider the technology necessary to comply with Sarbanes Oxley.’