Sarbanes-Oxley Data Compliance
The Sarbanes-Oxley Act (SOX) legislates the retention and control of electronic records and financial transactions. SOX places responsibility on public companies and registered accounting firms to comply with stringent rules for the accuracy and reliability of information by strengthening records maintenance and auditing/reporting procedures.
Section 404 requires management to establish and maintain adequate internal controls for financial reporting. Section 802 requires procedures to guard against the falsification, destruction or tampering of certain financial records. Section 103 & 105 orders that critical documents be maintained for a period not less than 7 years.
Achieve SOX Data Compliance
- Data is always protected with 256-bit ASE encryption technology.
- Files are securely stored at geographically diverse datacenters in accordance with SOX standards.
- Data may be restored swiftly and accurately, along with any needed audit information.
- Data retention can be set for the specific length of time as mandated by SOX.
ABS COMPLIANCE STANDARDS
|Information cannot be tampered with or altered by any employee and is available only to the customers authorized personnel||Data is encrypted with 256-bit AES encryption. Only authorized client personnel have access to the encryption password.|
|A trail of transactions must be discernable and kept in sequence||All iterations of a document are serialized, not overwritten.|
|Audit trails||Reporting gives regulators a custody chain of the stored information with user access date and time stamp detail.|
|Records must be accessible||Files are available for restore 24x7x365.|
|Certain data must be maintained for a period not less than seven years||Data retention can be set for the appropriate time period mandated by SOX, usually seven years. Retention time is set during configuration and allows all data backups to be automatically stored for the defined period.|
Note: ABS does not have access to the stored contents. It is the customer's responsibility for data maintenance to be in accordance with SOX standards.