Friday, April 08, 2005

UK version of Sarbanes-Oxley in force today


New rules are in force today that place companies under stricter auditing controls, similar to the issues addressed by the Sarbanes-Oxley Act in the US. They aim to ensure that company directors provide auditors with correct information, and allow the government to investigate suspected breaches.

The new UK regime, set out in the Companies (Audit, Investigations and Community Enterprise) Act of 2004, has obvious knock-on effects for records management. This may require companies to adopt more stringent information security measures to ensure the accuracy and integrity of their records.

See full Article.