S-OX Compliance: Short-term Goals — Long-term Value

By Anne Marchetti, Mike Scanlon, John Krieger, Gerald Walsh

For over a decade, finance groups have strived to transform their role from independent scorekeepers to business partners who are focused on developing top-line approaches to corporate success. With the passage of the Sarbanes-Oxley Act of 2002 (the Act), some CFOs fear compliance will minimize Finance’s role and overshadow the value the group can bring to the organization.

Good governance and adding value are not diametrically opposed goals. They can be complementary objectives that further the evolution of Finance as a value-added business partner if senior management recognizes the true impact of strengthening internal controls and financial management processes.

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