Introduction to Sarbanes-Oxley legislation (SOX)
Adopted in July, 2002 by the American Congress, the Sarbanes-Oxley Act (also known as the Public Company Accounting Reform and Investor Protection Act of 2002, SARBOX, SOX or Loi Sarbanes-Oxley, LSO for French) introduced a significant number of changes in corporate governance and financial practices.
Companies must respect miscellaneous administrative procedures such as the analysis of their financial procedures and the publication of their financial results as soon as possible.
The aim is very clear: It is a matter of restoring the confidence of the investors and of strengthening the governance of company, widely affected by the numerous financial scandals in 2001 and 2002 such as Enron.
Organized into eleven parts, sections 302, 404, 409, 401, 906 and 802 are the most important to respect the compliance especially SOX 404 which is often the most difficult to tackle.
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Reporting, monitoring, Business Rules and Key Performance Indicators (KPI) will allow a telecom operator to secure its billing and invoice environments quality maintenance in cooperation with IT, Revenue Assurance, Customer Care and all involved departments. Delta for prepaid will help you to fullfil the Act’s compliance and enables you to meet its requirements in the monitoring of your revenue streams and financial management.