SOX-XL Compliance with the Sarbanes-Oxley Act

Sarbox
Section

Regulation 

SOX-XL Compliance

SOX-XL Implementation

302(a)(1)

The signing officer has reviewed the report.

SOX-XL robust controls provide assurance as to the accuracy, authenticity, and integrity of data in the spreadsheets and facilitate review of all reports. 

302(a)(2)

Based on the officer’s knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading.

Multiple levels of review, audit trails, reason fields and electronic signatures ensure that all required material facts are included in the report and are true and accurate with multiple levels of accountability.

302(a)(3)

Based on such officer’s knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report.

Electronic signatures with userid, password and meaning of the signature that defines what each reviewer is signing for, provide accountability and completeness of all data required to fairly present the financial condition and results of operations. 
 
The Review Changes command provides an e-signature that can be used for final review and sign-off. Access to this command can be restricted to authorized users. 
 
The system administrator can configure various e-signature meanings (roles) such as Data Entry, Edit, Review and Approve. These are available as a pick-list to define the meaning of the e-signature at the time of signing. Once executed, the e-signature is irrevocably linked to the electronic record and cannot be excised, copied, or otherwise transferred to falsify an electronic record.