SAP SOX Compliance
What Is SOX Compliance?
The Sarbanes-Oxley Act (SOX) of 2002 requires financial transparency by U.S. public companies, ensuring their data is secure and accurate. Drafted by Congressmen Paul Sarbanes and Michael Oxley following several U.S. corporate and financial scandals, SOX compliance means having a formalized system for internal controls — one that provides full financial transparency.
In a blog post, the criticality of SAP governance, risk management, and compliance (GRC) for SOX compliance is explored. The author points out that two sections (Section 302 and Section 404) are the most important and relevant for SAP GRC and finance users.
What Is SOX Compliance?
The Sarbanes-Oxley Act (SOX) of 2002 requires financial transparency by U.S. public companies, ensuring their data is secure and accurate. Drafted by Congressmen Paul Sarbanes and Michael Oxley following several U.S. corporate and financial scandals, SOX compliance means having a formalized system for internal controls — one that provides full financial transparency.
In a blog post, the criticality of SAP governance, risk management, and compliance (GRC) for SOX compliance is explored. The author points out that two sections (Section 302 and Section 404) are the most important and relevant for SAP GRC and finance users.
An SAP SOX compliance checklist should address the following:
- Segregation of duties
- SAP GRC monitoring
- Safeguard SOX audit trails against emergency access
- Automate SAP audit reporting
Further Resources for SAPinsiders
Accounting & Finance Expands Its Influence. In this article, learn how UGI Utilities developed a strategic roadmap to better anticipate internal and external demands on the business — including regulations such as SOX. The utility shares how using BlackLine and its task functionality provides intuitive controls for SOX compliance.
Beyond SOX: Addressing non-financial risks through SAP configuration and sound supporting processes. Often, compliance is a focal point during SAP implementation to ensure compliance with financial reporting and regulations, such as SOX. However, there are optional SAP controls that could provide even more value to companies’ SAP system and supporting processes. In this session, Steve Biskie from RSM shares how to minimize and mitigate operational and strategic risks through SAP configuration. Understand who in the organization should be involved in recommending and validating control changes, and how to set up an appropriate cross-functional team to ensure decisions are sound and don’t introduce other risks.
Bridging the Cybersecurity Gap in IT General Controls (ITGC). Compliance with regulations like SOX often require a set of controls in place to mitigate risks to the integrity of financial reporting. Current ITGC testing performed by internal and external auditors is only focused on one slice of access risk. In this session, Brian Tremblay from Onapsis shares why it’s critical to understand the threats that exist to your SAP system beyond the current ITGC scope and how they relate to compliance with SOX.
A vendor that can help SAP customers with SOX compliance is Appsian Security. The provider offers a single platform for automating how users secure user identity, govern access, detect and prevent fraud, and demonstrate compliance with SOX, the General Data Protection Regulation, and more across critical business applications.
967 results
-
Introduction to Responsive Design in SAPUI5 and SAP Fiori
Ameya Pimpalgaonkar shows how to design responsive SAPUI5 or SAP Fiori applications. SAP Fiori uses the SAPUI5 framework and therefore all responsive design techniques used in SAPUI5 can also be used while developing custom SAP Fiori applications. Key Concept Responsive Design is an approach that enables you to develop Web sites or applications independent of...…
-
How to Prepare for a Comprehensive System Audit and Technical Review of SAP Access Control 10.0
Learn invaluable tricks and tips for overcoming top auditing issues specific to an SAP Access Control 10.0 system. Key Concept A system audit is an exercise performed to gain assurance that defined controls work as intended, thereby eliminating the likelihood of fraudulent or malicious activities in the enterprise system. It involves the verification of conformance...…
-
Premium
HP Improves Efficiencies and Enhances Its Customer Experience
In 2018, HP Inc. launched a strategic effort with three goals in mind: Make it easier for its customers to do business with the company, improve its internal processes for employees, and gain a competitive advantage. Migrating to SAP S/4HANA was selected as the way to simplify its sprawling corporate systems. A key component of…
-
Improve Speed and Consistency with Manual Control Performance in SAP Process Control 10.1
Learn how to ensure faster evaluation, improved reliability, enhanced consistency of controls, and clear accountability using the Manual Control Performance functionality in SAP Process Control 10.1. Key Concept Manual Control Performance in SAP Process Control 10.1 enables business process owners and relevant teams to plan and perform control activities manually at the transaction level and...…
-
Choose the Appropriate SAP NetWeaver BI and mySAP ERP Landscape
Discover the deployment options for mySAP ERP 2004 and SAP NetWeaver Business Intelligence (SAP NetWeaver BI). Know your landscape choices and the sequence in which you should implement your software. Key Concept The most recent ERP release from SAP, mySAP ERP 2004, provides greater access for end users to the SAP NetWeaver platform’s features. SAP...…
-
SAP Names Manik Saha Managing Director of SAP Labs East Asia
SAP has named Manik Saha managing director of SAP Labs East Asia, a move that highlights continued investment in regional engineering talent and Business AI development.
-
Why Shop-Floor Execution Is Still the Blind Spot of SAP® Manufacturing
Despite advancements in data accessibility within SAP for manufacturing, a significant gap persists between planning and execution on the shop floor, where reliance on traditional methods undermines real-time visibility and responsiveness, necessitating a shift to integrating execution data seamlessly to enhance operational efficiency.
-
Extending Business Processes with SAP Forms Service by Adobe
A partnership between a London-based IT service provider and FPT to integrate SAP Forms Service by Adobe within SAP Business Technology Platform has successfully customised output forms in SAP S/4HANA Cloud, resulting in enhanced operational efficiency, improved user experience, and streamlined business processes in Sales and Distribution and Materials Management.
-
When to Use Organization Rules and Reporting in Compliance Calibrator
Find out if your company should use organization rules for eliminating false positives from reports. Key Concept You use organization rules to provide an additional layer of segregation of duties (SoD) analysis to remove false positives that may result from segregating based on organization levels. You perform this analysis on top of your core Compliance...…
-
Integrate Policy Management into Your Global Compliance Portfolio
Discover how to use policy management with key elements of SAP Process Control to respond to risk events in your organization. Understand the ways in which policy management can be integrated into functional business processes. Key Concept SAP has developed a global compliance solution as part of Process Control 10.0 and 10.1. Managing company-wide policies...…
Related Vendors
Your request has been successfully sent