The joy of SOX : why Sarbanes-Oxley and service-oriented architecture may be the best thing that ever happened to you PDF
Preview The joy of SOX : why Sarbanes-Oxley and service-oriented architecture may be the best thing that ever happened to you
01_772747 ffirs.qxp 2/23/06 7:37 PM Page iii The Joy of SOX Why Sarbanes-Oxley and Service-Oriented Architecture May Be the Best Thing That Ever Happened to You Hugh Taylor 01_772747 ffirs.qxp 2/23/06 7:37 PM Page i TThhee JJooyy ooff SSOOXX 01_772747 ffirs.qxp 2/23/06 7:37 PM Page ii 01_772747 ffirs.qxp 2/23/06 7:37 PM Page iii The Joy of SOX Why Sarbanes-Oxley and Service-Oriented Architecture May Be the Best Thing That Ever Happened to You Hugh Taylor 01_772747 ffirs.qxp 2/23/06 7:37 PM Page iv The Joyof SOX: Why Sarbanes-Oxley and Service-Oriented Architecture May Be the Best Thing That Ever Happened to You Published by Wiley Publishing, Inc. 10475 Crosspoint Boulevard Indianapolis, IN 46256 www.wiley.com Copyright © 2006 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada ISBN-13: 978-0-471-77274-3 ISBN-10: 0-471-77274-7 Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 1B/RT/QT/QW/IN No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA01923, (978) 750-8400, fax (978) 646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, (317) 572-3447, fax (317) 572-4355, or online at http://www.wiley.com/go/ permissions. Limit of Liability/Disclaimer of Warranty:The publisher and the author make no representations or war- ranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in ren- dering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional person should be sought. Neither the publisher nor the author shall be liable for dam- ages arising herefrom. The fact that an organization or Website is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the infor- mation the organization or Website may provide or recommendations it may make. Further, readers should be aware that Internet Websites listed in this work may have changed or disappeared between when this work was written and when it is read. For general information on our other products and services or to obtain technical support, please contact our Customer Care Department within the U.S. at (800) 762-2974, outside the U.S. at (317) 572-3993 or fax (317) 572-4002. Library of Congress Cataloging-in-Publication Data Taylor, Hugh, 1965– The joy of Sox : why Sarbanes-Oxley and service oriented architecture may be the best thing that ever happened to you / Hugh Taylor. p. cm. Includes bibliographical references and index. ISBN-13: 978-0-471-77274-3 (pbk. : alk. paper) ISBN-10: 0-471-77274-7 (pbk. : alk. paper) 1. Management information systems—United States. 2. Corporate governance—United States. 3. Corporations—Accounting—Law and legislation—United States. 4. United States. Sarbanes-Oxley Act of 2002. I. Title. HD30.213.T397 2006 657 .320973—dc22 2006000879 Trademarks:Wiley and the Wiley logo are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates, in the United States and other countries, and may not be used without written permis- sion. All other trademarks are the property of their respective owners. Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. 01_772747 ffirs.qxp 2/23/06 7:37 PM Page v To my wife, Rachel. For your support and encouragement I am eternally grateful. 01_772747 ffirs.qxp 2/23/06 7:37 PM Page vi About the Author Hugh Taylor is Vice President of Marketing at SOA Software, the leading provider of management and security solutions for enterprise service-oriented architecture. He is the co-author, with Eric Pulier, of Understanding Enterprise SOA(Manning, 2005). The author of more than a dozen articles and papers on the subject of web services and service-oriented architecture, Taylor is an authority on business process management, SOA, and compliance issues. Taylor received his B.A. degree, Magna Cum Laude from Harvard College in 1988 and his M.B.A. degree from Harvard Business School in 1992. He lives in Los Angeles. vi 01_772747 ffirs.qxp 2/23/06 7:37 PM Page vii Credits Executive Editor Project Coordinator Bob Elliott Ryan Steffen Carol Long Graphics and Production Specialists Chris Webb Lauren Goddard Senior Acquisitions Editor Brooke Graczyk Jim Minatel DennyHager Stephanie D. Jumper Development Editor Ed Connor Quality Control Technician John Greenough Production Editor Kathryn Duggan Proofreading and Indexing TECHBOOKS Production Services Copy Editor Michael Koch Editorial Manager Mary Beth Wakefield Production Manager Tim Tate Vice President and Executive Group Publisher Richard Swadley Vice President and Executive Publisher Joseph B. Wikert vii 01_772747 ffirs.qxp 2/23/06 7:37 PM Page viii 02_772747 ftoc.qxp 2/23/06 7:38 PM Page ix Contents Acknowledgements xv Introduction xvii Part 1 The SOX Paradox 1 Chapter1 The Trouble with DexCo 3 The Curse of the Adequate Performer 4 AFunctioning Mess 5 Financials 14 Hidden Time Bombs 16 Summary 17 Chapter2 Agility: The Do or Die Mandate 19 New Blood, New Operating Environment 20 Moving Targets 21 Partnerships 22 Rapid Market Cycles 22 Technology Shifts 25 M&A 26 Retail Consolidation 27 Regulatory Shift 27 Betting the Company 27 Outsourcing 28 Agility for DexCo 29 The Wilde Plan 30 Summary 34 Chapter3 Ramifications of SOX 404 35 SOX 404—Definition and Context 36 SOX 404 and the Audit Process 40 ix
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