Impact of Sarbanes Oxley Legislation on It Organizations Term Paper

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Sarbanes-Oxley legislation's effect on IT Companies

Public Company Accounting Reform and Investor Protection Act of 2002 (the Sarbanes-Oxley Act) was an attempt by regulators to increase transparency and accountability in business processes and corporate accounting to restore confidence in public markets. (Logan and Mogull, 2003) One optimistic article published in the wake of the 2002 Sarbanes-Oxley legislation stated that "new personal responsibility" for companies' financial accountability could benefit chief executive and financial officers by increasing trust and thus increasing revenue for corporate America in the long-term. (PR Newswire, 2002) But James O'Brien notes in his 2002 textbook on Management Information Systems, that the act was passed in the wake of the Enron scandal, not to help corporate America, but to protect the consumer.

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Although spawned by an oil scandal, it affects all companies. The act was not specifically passed to regulate oil, IT or any specific companies in any specific industry. However, technology often defines and executes business processes or parts of business processes more specifically in IT firms. (Logan and Mogull, 2003) Furthermore, in IT companies, "the technology and business process regulated by Sarbanes-Oxley are so entwined that it's impossible to separate them," from the functions the company serves, unlike other industries. (Logan and Mogull, 2003) Thus, the costs incurred by the additional needed protocols to increase accountability may be greater for IT firms.

All of a firm's IT systems must be….....

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