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Sarbanes-Oxley: build compliance into credit's DNA.(Required reading)

Business Credit

| September 01, 2004 | Granda, Joe | COPYRIGHT 2004 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Sarbanes-Oxley Act is this year's hot topic for publicly traded firms because compliance is mandatory and the consequences for not doing so are dire. What does it mean for the credit department? In most cases, it requires "re-mapping the DNA" of credit management's processes and tools. It goes without saying that systematizing the credit evaluation process to meet the SOX standards will more easily enable the firm to fulfill the Act's certification process. But the silver lining to this added regulation, if done thoughtfully, is the improved credit decision-making thereby feeding more profits to the bottom line.

The aim of Section 404 is to ensure accurate ...

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Source: HighBeam Research, Sarbanes-Oxley: build compliance into credit's DNA.(Required reading)

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