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Sarbanes Oxley : Technology : Thought Leader
93% of IT Executives Unaware of SOX Responsibilities
The Caneum IT Assurance process specializes in providing our customers with the
tools, expertise and resources required to ensure that SOX IT compliance.
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Gary Allhusen
VP
Caneum Inc.
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Caneum recently launched the Caneum IT Assurance Group, adding to Caneum's suite of business process and information technology outsourcing products and services. Caneum is positioning itself to support the IT compliance requirements mandated for publicly traded companies resulting from the Sarbanes-Oxley Act (SOX) Section 404 compliance requirements.
Section 404 of the SOX legislation has enormous implications for every public company's information technology department. These include: the process for dealing with new business application installations, modifications, ongoing application monitoring, security issues with respect to IT systems and networks, and a variety of other questions and challenges
that focus on every public company's IT department's ability to provide the necessary and critical support across the corporate spectrum. The importance of including IT as an integral partner in the design, implementation and sustainability of SOX-mandated internal controls over financial reporting cannot be overstated.
"Caneum's IT Assurance process addresses each of these issues," commented Gary Allhusen, executive vice president of Caneum. Allhusen added: "The Caneum IT Assurance process specializes in providing our customers with the
tools, expertise and resources required to ensure that SOX IT compliance
becomes a reality and that they are well-equipped on a go-forward basis to
effectively deal with future challenges brought on by either their own
internal business needs and objectives, or external demands and pressures.
Our core focus is the assessment and remediation of enterprise IT controls
utilizing the COBIT framework for compliance with Sarbanes-Oxley section
404. Our other IT Assurance Group services include Audit, Risk Assessment,
Security and Continuity Planning."
Even at this late date, a recent survey by Obian Inc.
(http://obian.com/releases/93_9_30_04.pdf) found that 93 percent of
corporate IT executives were unaware of their Sarbanes-Oxley compliance responsibilities. The company believes these filers will require significant remediation efforts throughout 2005, and most of the non-accelerated filers, comprised of nearly 1,800 companies, have yet to begin their IT assurance work.
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