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Contrak SOX Compliance
Pain points of SOX Compliance
Do you need SOX Compliance Application
THE ConTrak SOX Compliance Solution

The Sarbanes Oxley Act is a complex and complicated set of requirements that provide for many aches and pains for all public companies whether large or small. After the Enron scandal, all public companies must pay the price by complying with stringent rules that hopefully protects stockholders, employees and the company from a similar fiasco.

What is the cost of compliance? As we saw earlier, Forbes.com estimated it at $91,000 per company of approximately 300 companies they polled. This is a hefty sum of money for smaller companies to pay and even impacts the larger companies.

Another consideration is the complexity of the requirements and the ability to manage and maintain accurate records to be re-used each year in the hopes of simplifying the SOX audit in years to come. Companies have been known to build their own in-house application to facilitate this tracking or just use plain spreadsheets to maintain their data.

In an effort to mitigate the exorbitant cost of hiring staff and consulting firms to assist in SOX audit efforts and also to simplify the complexity of managing and maintaining your records and utilizing them from year to year, Object Module, Inc has developed the ConTrak SOX Compliance application the provides a mechanism for setting up and tracking all of the necessary information to comply with the SOX requirements.

 


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