Manage and track multiple compliance, risk, and governance operations
Gain control and efficiency with our comprehensive dashboard
Effortlessly centralize document and file management securely
Organize and streamline activities with automated scheduling calendar
Empower compliance with timely notifications, alerts, & deadline tracking
Ensure timely response, accountability, and risk mitigation through escalations
Gain compliance control, mitigate risks, & save time with framework library
Streamline assessments. enhance collaboration, ensure compliance.
Strengthen accountability, compliance, and transparency with audit logs
See our platform in action for free. No credit card required!
Integrate VComply with your everyday tools, and manage compliance and risk better
Manage multiple frameworks, implement controls, and protect your brand
Goin 360-degree visibility with intuitive compliance dashboard
Stay informed and proactive w ith notifications & alerts
Simplify file and document management with ease
Automate compliance workflows for seamless efficiency
Streamline compliance with customizable framework library
Enable collaboration across locations, departments, and teams
Centralize compliance work for streamlined efficiency
Goin actionable insights with robust reporting feature
Automate risk processes, assess risks, align risk and compliance
Identify and track risks using the centralized risk register
Enable collaboration across stakeholders for better resolution
Streamline risk assessment with process automation
Enhance risk visibility with intuitive and centralized dashboard
Establish connection across teams, departments, and locations
Elevate risk awareness through proactive notifications
Manage files & evidence centrally for efficient control
Enhance decision-making with actionable risk insights
Develop, review, approve, distribute, and track every policy with confidence
Efficient policy distribution through central repository
Streamline policy drafting and lifecycle management for simplicity
Simplify compliance with comprehensive policy templates
Simplify policy management with efficient version control
Accelerate policy approvals with automated processes
Collaborate seamlessly with cross-functional teams
Effortlessly measure policy training effectiveness with assessments
Manage policy life cycle with automated reminders and notifications
Streamline audit planning, fieldwork, and reporting using a unified platform
Maintain transparency and accountability with audit trails
Organize and streamline audit with automated scheduling and calendar
Centralize audit files for streamlined evidence collection and management
Stay informed with proactive audit activity notifications & alerts
Streamline audit assessments for comprehensive compliance
Bring audit plans, activities into the single space for complete control
Simplify audits with automated workflow efficiency
Gain 360-degree visibility with intuitive Audit dashboards
Empowering success through streamlined compliance, risk, and governance solutions
Empower your business with simplified regulatory compliance solutions
Empower your enterprise by elevating risk management practices
Transform GRC operations for optimized efficiency and effectiveness
Mitigate risks with seamless third-party risk management
Check out how VComply helps utilities comply with NERC’s reliability standards.
Empower your business with pre-built customizable regulatory and control frameworks
Achieve quality success through ISO 9001 Framework
Deliver compliance excellence with the power of SOX framework
Simplify your security approach with ISO 27001 framework
Navigate cybersecurity excellence with NIST framework compliance
Promote data security through compliance with PCI DSS framework
Unlock trust and security with SOC 2 framework for compliance
See the extensive compliance framework library of over 20+ supported framework
Achieve compliance for your electric utilities with these NERC-approved reliability standards
Empower your industry with unmatched effectiveness and efficiency
Help Financial Services power GRC processes
A smart GRC software that upgrades manufacturing compliance
Modernize banking compliance with VComply
Remove compliance risk from your non-profits
Effectively manage your higher education compliance and risk
Redefine healthcare compliance and risk with VComply
Build, boost your compliance in construction
Strengthen resilience for energy and utility companies
Turn risk into opportunities with F&B compliance software
Stay connected and grow alongside VComply
Stay informed on compliance, risk, audit, and policy management trends
Streamline work with comprehensive guides for seamless management
Navigate complex GRC challenges with valuable e-books
Discover user stories for valuable insights into user-experiences
Access comprehensive definitions and explanations for essential GRC terms
Gain a comprehensive understanding of the features, benefits, and capabilities
Discover insights from experts on the latest happenings in GRC
Learn tips, tricks, and insights to make compliance work for your organization through our expert webinars!
Utilize our go-to templates and checklists to help you stay compliant
Keep in sync with the latest changes by updated framework templates
Get compliance assistance through VComply compliance checklists
Download policy templates that you use to create guidelines and processes.
Discover the power of VComply through our detailed use case guides
Get to know what make VComply the best GRC platform on the market
Discover VComply's value, mission, and vision for better GRC future
Stay informed about VComply and GRC industrylatest updates
Join VComply, redefine compliance, unleash potential
Know about our partnership program
Get to know our board of advisors
Stay up to date on the latest VComply news
VComply offers unparalleled Sales and Customer Support
Send us your sales queries and let us know your needs
Get 24/7 quick and dedicated support anytime
Lets get social
Follow us on LinkedIn for company updates
Join VComply on Twitter for live updates
On July 30, 2002, the American Congress passed the Sarbanes-Oxley (SOX) act to improve corporate disclosure accountability, transparency, and corporate governance across a public company. The SOX act is intended to protect the shareholders and the general public from business accounting errors and fraudulent activities. The act was passed in a reaction to a series of financial scandals that occurred during 2000-2002 period such as Enron, Tyco, and WorldCom.
Congressmen Paul Sarbanes and Michael Oxley put the compliance act together the SOX (Sarbanes-Oxley Act) Compliance Act in the US in 2002. With the SOX Act, all U.S. public company boards, management, and public accounting firms should confirm with SOX standards with the goal to increase transparency in financial reporting. It also requires them to implement formalized systems for internal controls. The nature of data storage by IT has also changed with the SOX Ac. It defines which records need to be stored and the timeline that has to be followed for the storage. Complying with SOX requires businesses to save all data records, which are no longer limited to electronic records and messages, for not less than five years. Non-compliance with SOX may lead to fines or imprisonment or both.
The Act contains eleven titles that cover additional corporate board responsibilities to criminal penalties. The enforcement and implementation of these requirements were given to the Securities and Exchange Commission (SEC). The most important SOX compliance requirements are considered to be 302, 404, 409. As per section 302, every public company must file periodic financial statements and the internal control structure with the SEC. Section 404 requires that all annual financial reports include an Internal Control Report stating that management is accountable for internal controls and that any shortcomings should be reported. As per section 409, companies need to disclose any changes in financial conditions or operations so that the interests of the investors and public are protected.
The third rule under Sec 802 of SOX Act defines business records, communications, and electronic communications that need to be stored. The IT department is responsible for the creation and maintenance of corporate records. The department should comply with the Act in a cost-effective way. According to Sec 802, Criminal Penalties for Altering Documents in SOX Act, the penalties for anyone involved in the destruction, alteration, or falsification of records would be hefty fines or imprisonment for not more than 20 years or both. The second rule under Sec 802 SOX Act defines the data storage retention timeline. Some of the generally accepted retention periods under SOX are listed below.
The management should implement security controls so as to ensure the safety and accuracy of data. There is a major overlapping of Data governance and SOX Compliance as both of them work towards the safety and accuracy of data within the organization. Data mapping and classification tools help in tracking the data’s whereabouts and its usage.
An independent auditor conducts SOX audits on an annual basis. SOX audits have to be separate from other external and internal audits to avoid any conflict of interest. However, one can time the audits with other audits so as to be able to include it in their financial annual reports, thus having transparent communication with their stakeholders.
To comply with SOX, your business must demonstrate that it has strong, approved internal controls. It also mandates that an internal auditor should verify that these controls work. Implementing a software solution for managing compliance requirements would enable monitoring of data, tracking policies and its timelines and recording every user action. With evidence trails captured in the system, it would ensure the proper investigation in case of any fraudulent activity. Implementing a software solution that ensures SOX compliance would protect data and business and ease the SOX audit processes carried out annually. VComply helps the organization in tracking SOX Controls on a single platform with real-time tracking and in-detailed analysis.
Explore what makes VComply a consistent G2 high performer in Compliance Management. Request your demo today and transform your approach.
Ready to set up a trial of VComply and automate your compliance process?