| The SOX Act of 2002 provides several legal requirements for publicly owned and traded companies when dealing with their electronic data. Examples of this data include medical and finacial information and customer data such as SSN's, Tax id numbers, credit information and bank records. The Sarbanes Oxley actstates that a company can be audited by an outside agency to ensure compliance. Failing such an audit can lead to serious repercussions provided under the law.
The Sarbanes-Oxley Act of 2002, sponsored by Sen. Paul S. Sarbanes and Rep. Michael Oxley and signed by President Bush, was created to help remedy the many corporate accounting failures and falsified financial reports of recent years. It is the biggest securities legislation in 70 years and it established a new Public Company Accounting Oversight Board to set auditing standards. The Sarbanes-Oxley Act (SOX) established many new requirements for SEC registered companies and the firms that audit them.
The focus for most public companies is SOX Section 404, this section requires publicly owned companies to reduntantly record their financial and IT controls, evaluate their effectiveness and publicaly report the findings. This method is checked by providing for outside auditors to evaluate the companies control methods. The auditor may also utilize their own methods to test the effectiveness of the companies strategy. The auditor will publicly report their findings as well. 2004 was the first year in which companies were required to report on their internal control evaluations.
In a nutshell SOX requires companies to protect their sensitive data and report publicly on how they do so, and to report publicly any failures to do so.
When considering purchasing recycled media Sarbanes Oxley concerns may come into your thoughts. However, there is no need to worry. Simply using recertified media will not cause a problem in compliance. Sarbanes is primarily concerned with data backup and tracking of customer and company financial data.
However if you are going to do a major overhaul of your backup equipment or data tapes you should read more about sarbanes oxley compliance and selling used tape.
DTC computer supplies only the highest quality recertified data tapes. The performance of these tapes will rival or exceed new tapes or "reformatted" or "refurbished" tapes offered by our competitors.
Still have concerns about buying recertified media? This media recertification page on our partner site should ease your mind.
Additional Sarbanes-Oxley Resources
Click Here to see a summary of the complete Sarbanes Oxley (SOX) Law.
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Sarbanes Oxley and selling used storage media |
