Sarbanes-Oxley Act 2002

Sarbanes-Oxley Act was passed in 2002 after a number of major corporate financial scandals involving large companies in the United States. These scandals resulted in the loss of public trust in the existing accounting and reporting practices. The goal of Sarbanes-Oxley is to restore investor confidence by assuring transparency of the accounting operations.

As all companies have to ensure they are Sarbanes-Oxley act compliant, the two most popular solutions evolved: external audit and automated software systems guaranteeing compliance of the company operations. DataArt has the necessary knowledge and experience to help you with the latter.

An application developed by DataArt for a San Francisco-based company provides customers with a web based interface for the collection and reporting of off-balance sheet contract information, for the purpose of SEC contract reporting. The system works as a central repository of off-balance sheet data that can be maintained and managed in a consistent manner.

The application provides real-time information disclosure - the key component of SOX Section 409 of the Act - and the customizable report system provides full compliance with SOX Section 302 and 404.

The system's features include the following:

• Fully customizable controls
• Flexible security system
• Customizable reports system
• Excel documents import

The technologies used for the system development include:

• ASP.NET
• C#
• Crystal Reports for Visual Studio .Net
• Microsoft SQL Server 2000