White Paper: Sarbanes-Oxley and Corporate Risk Management

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WBCRERM

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Description:

The white paper reviews the similarities of risk management and the financial controls evaluation required by Sarbanes Oxley, sections 404 and 302. Companies already using IBM Workplace Business Controls and Reporting (WBCR) should consider adapting that system for their full corporate risk management requirements. COSO, which developed the framework on which WBCR is based, also developed a framework for enterprise risk management (ERM). The data structures of the two frameworks are closely matched, suggesting that WBCR could provide the same kinds of benefits to an ERM program.

The white paper takes the form of a memorandum written by a hypothetical company's risk management executive to the CFO. In it, the VP - Global Risk Management discusses the following major points:

SOX compliance is a key part of our corporate risk management program.
The requirements for managing SOX compliance and ERM are similar.
We should be able to use the same system as for SOX compliance.
Converting risk management to WBCR should be much easier than for initial SOX compliance.
The benefits for our risk management program could be substantial.

The paper also lists a few decisions and other steps needed to start adapting and customizing WBCR for an organization's risk managment program.

Cost:

FREE download

White paper is in Adobe Acrobat PDF format.

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