Question

Discuss the cost vs. the benefit of SOX 15+ years after passage

Answer 1

#	Area	Cost	SOX 15+ years
1	Risk Triage	Costing is the backbown of the organisation, Cost reduce the risk of the future losses	Not all risks are created equal. SOX compliance benefits companies by giving them a starting point for asset analysis. Bringing in the risk means being able to more effectively manage your controls. The Information Systems Audit and Control Association (ISACA) explains,
2	Control Structure Strengthening	Costing defines structure control to copup the risk ascertained in furtuer	SOX compliance benefits around controls include better Control Awareness by Control owners. This means that how and why these controls are important and where they fit into the big picture is more transparent. When auditors and management focus on internal controls through a SOX assessment, the control owners quickly become more aware of how important their activities are to the financial success of the organization.
3	Efficient Financial Reporting	With the help of Cost, Management decision can be taken in the eye of financial reporting	The main goal of SOX was to provide transparency in financial reporting. In doing this, the regulation defined the process for determining reliable information.
4	Better Audits	To ascertainement of Profit of the Company Cost plays vitol role for Auditors in their Auditing activities	The audit committee should be responsible for the broad overview of the organization’s risk management, under which SOX compliance falls. Executive management is speci cally responsible for the accuracy and completeness of the organization’s internal control over financial reporting – a key component of the SOX requirements. Therefore, it makes sense that executive sponsorship falls under one of these bodies, particularly within a public company.