Microsoft to offer Solution Accelerator for Sarbanes-Oxley
crn.com | at | by Mike
Microsoft on Wednesday announced it will offer software that will help public companies comply with pending requirements related to the financial disclosure and monitoring of internal controls. The company said it will release its Microsoft Office Solution Accelerator for Sarbanes-Oxley in March.
Microsoft's forthcoming software is designed to address section 302 (related to disclosure) and section 404 (related to internal controls), mandated by the Sarbanes-Oxley Act of 2002 (SOX). Together, the two sections will require the CEOs and CFOs of public companies to, among other things, certify that they have established and are maintaining internal financial controls, ensure the effectiveness of these controls, and issue alerts within 48 hours of a "material event" that could affect the company's financial well-being. These requirements will go into universal effect as of June 15, 2004.