The criminalization of corporate fraud has America’s corporate community scrambling to find Web-based enterprise solutions that are SOX compliant. Accounting for financial reporting can only be facilitated with a suitable time and expense solution.
Executive and financial officers are marching to the militant beat of The Sarbanes-Oxley Act (SOX). The “delegation of responsibility” rings a prudent tune in America’s corporate community. Since its implementation by the United States federal government in 2002, all publicly-traded companies are responsible and accountable for corporate accounting oversight and disclosure.
Material misstatements due to error or fraud result in severe criminal and civil penalties. The price to pay is demonstrably steep fines or jail time—ten years to be exact.
The need for accurate recordkeeping is now pushed to its limits. America’s corporate community is scrambling to find applications that will help simply their financial reporting processes. Web-based time and expense solutions are a prime and novel option.
Web-based time and expense solutions provide exact summaries to help financial officers generate accurate audit trails. By eliminating error-prone paper trails and manual tracking processes, executives are able to accurately track liabilities.
Tom Jacobs writes for www.superbtimesheets.info where you can find out more about timesheets and other topics.
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