Contract Management: Improving Corporate Governance
- Topics:
- Negotiations and Contracts
- Tags:
- Contract Management,
- Sarbanes-Oxley Act,
- Sarbanes-Oxley,
- Regulatory Compliance,
- Regulations,
- Policies And Procedures,
- iSource,
- Human Resources,
- Government,
- Financial Accounting,
- ...
- Source:
- iSource
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Overview: The Sarbanes-Oxley act places stringent guidelines on corporate governance, and many executives are hurrying to bring their companies into compliance. How can a contract management system help? The Sarbanes-Oxley Act mandates that corporations develop sound internal controls as well as provide timely and accurate disclosure of financial information to investors. The Act also specifies oversight and penalties to enable enforcement of these requirements. While most corporations focus on aspects of the Sarbanes-Oxley Act that govern financial transactions, the Act also has implications for the commercial contracts that underlie each financial transaction. This is an area that most companies today are ill prepared to manage. This paper describes the contract management software that has emerged as a powerful solution that provides organizations with greater visibility into contracts, enabling the control and disclosure necessary to comply with the requirements of the Sarbanes-Oxley Act.
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Format: HTML | Date: Jan 2003 | Pages: 1
