SOX Compliance

The Sarbanes Oxley Act of 2002, also called SOX establishes new or enhanced standards for all U.S. public company boards, management, and public accounting firms. The Act contains 11 titles, or sections, ranging from additional Corporate Board responsibilities to criminal penalties, and requires the SEC to implement rulings on requirements to comply with the new law.

Section 404 of SOX requires management and the external auditor to report on the adequacy of the company’s internal control over financial reporting. The report must affirm the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting. The report must also contain an assessment, as of the end of the most recent fiscal year of the Company, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

One aspect of compliance with SOX involves controlling access to resources. StrikeForce Technologies ProtectID product helps meet this aspect of compliance by enabling two factor authentication to resources.