Sarbanes Oxley / SOX Administrator

Sarbanes Oxley / SOX Administrator

The Sarbanes Oxley Act, of 2002 – sometimes known as "SOX" – is legislation that was enacted in response to several high-profile, financial scandals, to protect the shareholders of companies, and the general public, from fraudulent practices. The U.S. energy trading giant, Enron, for example, revealed, in 2001, that it had concealed debts of nearly $600 million dollars in the preceding four years, forcing the company into bankruptcy. The Sarbanes-Oxley Act contains no less than 11 individual titles pertaining to requirements for financial reporting, etc., with the intention of setting new, or enhancing existing, security standards.

Compliance with the Sarbanes Oxley Act has become, and continues to be, a major course of action within many organisations, and the role of a Sarbanes Oxley Administrator is typically to develop strong working relationships with senior management and stakeholders in a company, with the ultimate aim of enforcing SOX regulations. Internal security – that is, ensuring that the correct data is available to the correct personnel within an organisation – is obviously part of the job, but other duties may include auditing, and/or liaison with auditors, to produce detailed reports, along with analysis and explanation, maintenance of SOX documentation, internal testing of systems, etc.. The planning, and execution, of Sarbanes Oxley controls audits – along with identification of key controls, and the periodic review of those key controls, to determine their effectiveness – are also likely to be included in your job description.

Skills & Qualifications

The skills and qualifications required to become a SOX Administrator may vary slightly from employer to employer, but you will need the technical ability and gravitas to take on what is a fairly high-profile position. Academically, you will need to be a fully, or part, qualified accountant – that is, with a Bachelors' degree in Finance, or Accounting, and/or an appropriate professional qualification – and, practically, you will obviously need to be familiar with SOX legislation, procedures, and, possibly, software. A methodical approach, with precise attention to detail, is required, so the role may suit anyone with a background in internal auditing, or business risk assessment. The role of SOX Administrator will, inevitably, bring you into contact with process, and executive, owners, on a regular basis, so strong communication skills are also required.

Back to listing