SOX Compliance and Financial Reporting

Companies approached Sarbanes-Oxley (SOX) compliance as a project, implementing manual controls to meet compliance requirements. Most of the projects went over budget and external auditors found many deficiencies. SOX was intended to encourage companies to follow best practices to find financial inaccuracies and deter fraud. Unfortunately, the expense for SOX compliance is far greater than anticipated.

Companies are beginning to view compliance as a year-round process, not a one-time project. Information Technology plays an important role as software can operate continuously and be used to automate controls.

Designed by Auditors

IPLocks addresses the two biggest challenges presented by SOX compliance (where to implement controls and how to implement them) by specifically targeting the database itself utilizing automated processes. Designed by auditors in accordance with PCAOB guidelines, IPLocks pre-package controls/reports will accelerate your compliance efforts and ease the burden with auditors since IPLocks reports are exactly what auditors want to see.

IPLocks financial report

IPLocks Reports

Understanding what financial reporting requires and what auditors need to see, IPLocks developed several key IT database controls which are easily automated. These controls take the form of reports, which when generated by IPLocks can easily be sent to IT and business owners for review.

With the IPLocks SOX Solution, companies can implement controls that run continuously throughout the year. External auditors can review reports generated throughout the year, verifying that controls were properly implemented. With controls running year round, issues are identified early on and appropriate steps can be taken to solve problems. Therefore, external auditors will require less remediation on your part – saving time and money.

The IPLocks Solution ensures proper IT process controls are in place and consistent over time, thereby improving the accuracy, management and efficiency of strategic data sources. Some of the key benefits include:

  • Database Controls Are Best Practices for Financial Data
  • IPLocks Solution: Implement uniform process controls on financial data using IPLocks rules and reporting tools.

  • Bring Deficiencies to the Surface
  • IPLocks Solution: Audit data changes and begin remediation processes immediately when activities occur outside normal business practices. Consider interrupting suspicious activity in real-time.

  • Safeguard Your Business Against Fraud from the Inside
  • IPLocks Solution: Build strong database key controls that audit reading and writing of sensitive data. Publicize those controls - build organizational awareness of controls to deter fraud.

  • IPLocks & SOX: A Proven, Cost-Effective Solution
  • IPLocks Solution: IPLocks has been successfully implemented at more than 150 customers for SOX compliance or database security. Our customers will attest that IPLocks is a cost-effective solution for meeting your data compliance needs.

The IPLocks solution leverages significant business investments improving business performance, reducing time, effort and costs of IT compliance controls.

For more information, you can contact IPLocks directly at or by calling +81-50-3786-6911.