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Maximizing Internal SOX Compliance Through Knowledge Share

    a group of people working on computers, emphasizing the importance of knowledge share in proper SOX compliance

    The use of technical writers to deal with SOX compliance is one of the services offered by EDC. Given that SOX compliance mainly affects public companies, EDC’s technical writers can also assist with providing the necessary compliance documentation. Along with documentation, EDC can help with SOX compliance through knowledge share, maximizing not only your compliance documentation needs but also your knowledge transfer plans.

    SOX and Knowledge Share

    The primary purpose of SOX is for businesses to provide clear financial information under a section 404 audit to protect investors. By doing this, the government can regulate companies more thoroughly to prevent fraud. This is mainly done with compliance documentation through an internal controls report. While simply compiling the necessary information for a controls report can suffice, technical writers can also perform SOX compliance while also maximizing performance in other areas of your business. In particular, one approach is to optimize the knowledge share of operational frameworks for industry-compliant internal control across IT and finance departments within a public enterprise. This approach is beneficial due to the large amount of information required for SOX compliance as well as because it pertains to several different departments. So, an optimal way for a technical writer to go about SOX compliance is through knowledge sharing. By doing this, you not only streamline the process of creating a control system for SOX compliance but also improve knowledge transfer plans in your company. 

    What a Technical Writer Will Do

    The use of a technical writer to set up such a system is helpful due to the abstract ways a control system works. The information needed to input for a controls system to work are: rules that cover both physical access to your offices and paper files and electronic access to your data, financial records that must be backed up offsite in ways spelled out by the law, rules that demonstrate that you have protected your data against breaches, and defined procedures for adding or changing the databases and software that manage your corporate finances, as well as adding new users to your systems.

    This information is specific to a company, so having a trained technical writer to sift through your organization’s financial records and security system to correctly implement them would be beneficial. A technical writer can set up a knowledge management system to allow for knowledge sharing and transfer and thus, making it easier to gather the necessary documentation for SOX compliance. Once this is done, having a framework such as the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) one, which emphasizes an integrated approach to assessing controls, would then be utilized for SOX compliance.

    Conclusion

    The different areas of expertise that technical writers have can help with maximizing efficiency in multiple parts of a company. The benefit of knowledge sharing is that it improves efficiency in your business, but another positive externality is that it also helps with SOX compliance. Hiring a technical writer for both knowledge transfer and SOX compliance is the best way to go about performing these tasks for your business.

    How EDC Can Help

    Whether you need a team of consultants to produce a complete line of documentation or a single technical writer for a brief project, Essential Data’s Engagement Manager will lead the project from start to finish. At Essential Data Corporation, the quality of our work is guaranteed. Contact us today to get started. (800) 221-0093 or sales@edc.us

    Written by Stanley Chu

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