Efficient SOX 404 Compliance Requires Meticulous, Comprehensive Policy Framework (part 2)

By Peter Culpepper

Meeting regulatory requirements such as Section 404 of the Sarbanes-Oxley Act (SOX) necessitates the application of comprehensive procedures and controls. The sheer mass of information that must be processed under SOX 404 compels technology, finance, legal, and executive teams to develop a unified approach to compliance. Moreover, a clear understanding of goals facilitates success in maintaining adequate reporting systems and driving improvements.

Companies in industries like manufacturing and pharmaceuticals usually maintain documentation and procedures for regulatory compliance activities not related to SOX. By leveraging documentation associated with all compliance and reporting requirements, companies eliminate duplication of efforts and position themselves more effectively to implement solutions that enhance all reporting endeavors. Zealous communication between participants promotes effective translation of terms and objectives, and such communication proves beneficial in keeping SOX initiatives on track. It also helps to prioritize crucial tasks rather than rushing to put a more far-reaching, but untested, proposal into practice immediately.

About Peter Culpepper: A seasoned finance professional with nearly 20 years of experience, Pete Culpepper serves as the Chief Financial Officer of Provectus Pharmaceuticals, a Tennessee-based company which develops treatments for cancer and dermatological diseases. Culpepper belongs to the American Institute of Certified Public Accountants and Financial Executives International.

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