SOX Compliance: Why MDM Is a Must

SOX Compliance

In order to comply with Sarbanes-Oxley (SOX), public companies must employ strict internal controls to ensure that financial reports are accurate and reliable. In many cases, those very reports are generated using data straight from the data warehouse.

Herein lies the problem.

ETL processes were likely used to extract data from disparate data sources into the data warehouse, not necessarily using any mechanism to cross-check for 100% accuracy. And we all know the unfortunate, yet possible, consequences of inaccurate data, leading to inaccurate reporting.

Depending on organizational circumstances, the CEO, CFO, or whoever certified the accuracy of the report can be meted a fine of up to $5 Million or imprisoned for up to 20 years. And there’s more. Negative perceptions of the company can quickly spread when inaccuracies are discovered, adversely affecting the company’s stock price.

Just how fatal can these effects be? In the case of some of the biggest accounting scandals – think Enron and WorldCom – the consequences of unreliable reporting ended in bankruptcy.

To avoid any inaccuracies and to comply in full with SOX, it is increasingly important for ETL systems that load data into the data warehouse – especially in the case of financial reporting – to be augmented with mechanisms ensuring data accuracy.

This brings us to MDM, or the Master Data Management system.

As its name suggests, Master Data Management mostly deals with master data (e.g. customers, products, and suppliers) and is non-transactional in nature. Despite this, master data is often used to support transactions. For example, a particular sales transaction won’t make sense if it is only represented by the value of the total sale (e.g. $1,000) and the quantity of the products sold (e.g. 50 pcs). To complete the transaction record, you’d need master data on the customer, salesperson, and product.

When multiple data sources exist, the next question concerns which version of customer, salesperson, or product is being referred to. Large public companies often own numerous business systems, each sourcing data from various databases. The same customer simply entered as “Acme” in one database can be recorded as “Acme Inc.” in a second database and as “Acme Manufacturers Inc.” in another.

An MDM is built to reconcile these issues.

When used as part of an ETL tool, an MDM system can eliminate duplicates as well as validate the correctness, consistency, and completeness of all master and reference data before it gets loaded into the data warehouse.

When using MDM and ETL in alignment, the data warehouse becomes a single reliable source of information for financial reporting.

An MDM system can relieve data warehouse developers of inefficient tasks, typically involving coding and maintaining complex logic for integrating reference data, which lends itself easily to redundancy and human error.

As it incorporates a wide range of corporate governance activities, SOX compliance can be an exhaustive endeavor for any business, and reporting accuracy is certainly a difficult place to start. When setting up the data warehouse for compliance, MDM is the key ingredient in your business’ path towards achieving full compliance.



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Firedrive is a UK based company that is popular for cloud storage and file hosting service. Putlocker was the former name of firedrive which is renamed on 12th February 2014. It provides storage space of 50 GB and maximum upload file size of 1 GB for the users. It is very easy to access these files on nay device and shared through private and public. Some of the other features include group and file permissions and Filedrops. It is a free site that allows people to use size for free. Additional contents can be accessed by giving the monthly fees.

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Best songs with your Windows Down Playlist

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Don’t Leave Your Check Blank!

If your business prints its own checks, it is important for you to make sure that everything is in place so that you can do so effectively and securely. In many cases, this is going to be done with the right type of check writing software and HP toner that is going to allow you to print with the specific type of bank that is needed for those checks. It is also necessary, however, for you to consider the security that is available in your local network as well as in any peripherals that are attached to the network. How can you ensure that you are up-to-date on any of the security measures that need to take place?

Something that is often overlooked when it comes to check writing security is the security of the blank check paper that is being used (Source:Troy Group – Blank Check Paper). Quite simply, you would not want to give access to that paper to anyone, but only those that have the authority to print the checks directly. Unfortunately, securing the paper can be problematic unless you have a printer that is specific to that task. There are some secured check printing printers which have locking trays that secure the paper along with other parts of the printer in order to deny access to anyone that is not authorized. Of course, you would also want to ensure that the network that you were using in the office did not allow anyone without access from being able to print those checks as well. When those two items are in place, you will find that it is far less likely that security issues will be a problem.