Section 404 and Telecoms
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Research and Markets is offering a report on the Sarbanes-Oxley Act and the effect on Telecoms companies. The research centres on telcos IT processes and systems. Further, it tries to draw lessons from their experience. Requirements of the Act, in particular Section 404 are covered. 404 mandates that companies and their executives attest to the effectiveness of internal controls in relation to financial reporting. IT controls as they are so pervasive come under particular scrutiny. Systems looked at in the report are mainly OSS (Operations Support Systems) and BSS (Business Support Systems). The report costs €210 for either a hard or electronic copy. Each functional BSS/OSS process can be broken down into specific activities where controls may be introduced. Billing, revenue assurance and mediation are the main focus of telcos' compliance activities today. End-to-end order processing and inventory management are also coming under scrutiny. While the cost of compliance is high, particularly in terms of auditors' fees, this can be reduced by automating the extraction of representative groups of records at each processing stage for examination.
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