Boston (May 29, 2003) -- Companies must evaluate all of their information technology projects taking into account the compliance and internal controls necessary to adhere to the new Sarbanes-Oxley law's initiatives, according to a research firm.
AMR Research said it found that "there is a no-size fits all technology solution for (SOX compliance)."
"Companies have the opportunity to use SOX as a justification for long- awaited IT projects that push systematic change and improvement throughout the organization," said John Hagerty, Vice President, AMR Research. "Our analysis shows that there are a number of potential remedies to bring firms into compliance with SOX while at the same time getting the maximum benefits out of their existing investments."
Hagerty said the firm's research shows that companies can use SOX like they did Y2K, as a strategic justification to invest in standardization, process controls, performance management, and other tools to improve overall business performance.
He added that the nine-month delay in SOX enforcement announced by the SEC this week "is great news for companies to thoroughly evaluate their options."
Additional analysis can be found at http://www.amrresearch.com.
-- WebCPA staff
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