Nagaraju Boddu
Osmania University
Hyderabad India
Er Om Goel
ABES Engineering College Ghaziabad
NCR Delhi India
Abstract
The enactment of the Sarbanes-Oxley Act (SOX) has revolutionized corporate governance and financial reporting by imposing strict regulatory standards on internal controls and accountability. In this context, Oracle ERP systems have emerged as a critical tool for organizations aiming to achieve and maintain SOX compliance. This paper explores how Oracle ERP frameworks facilitate adherence to SOX mandates by integrating robust internal controls, streamlined audit trails, and advanced risk management protocols. Through automation and real-time data processing, Oracle ERP systems provide a unified platform that enables efficient monitoring of financial transactions, supports segregation of duties, and enhances transparency in reporting. The flexibility of Oracle’s architecture allows companies to tailor their compliance strategies, addressing industry-specific challenges while minimizing the risk of fraud and errors. Furthermore, the system’s comprehensive reporting features ensure that audit requirements are met consistently, thereby bolstering investor confidence and corporate credibility. By leveraging Oracle ERP’s technology, organizations not only comply with the statutory provisions of SOX but also improve overall operational efficiency. This paper further examines the interplay between technological innovation and regulatory compliance, highlighting best practices and strategic considerations essential for successful implementation. The study underscores the importance of continuous improvement and adaptation in the dynamic regulatory landscape, ultimately emphasizing that technology-driven solutions are pivotal in fostering a culture of accountability and financial integrity.
Keywords
SOX Compliance, Oracle ERP, Internal Controls, Financial Reporting, Risk Management, Audit Trails, Regulatory Adherence, Corporate Governance
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