Tag Archives: Sarbanes Oxley Act

Case Study on Cano Petroleum Inc

Kaseya has empowered IT operations to run more smoothly. Tasks that took hours or days before now just take moments. That results in fewer interruptions to the business; allowing thecompany to focus on business objectives rather that a “tech”taking up their workday installing patches and upgrades.
– Jon Morgan, Manager of Information Technology, Cano Petroleum.

As a publicly traded oil and gas company, Cano Petroleum, Inc. must comply with the Sarbanes-Oxley Act of 2002, reliably accounting for all revenue streams and corporate expenditures in an effort to ensure transparency throughout the accounting process. The company uses innovative technology to extract additional oil and gas from mature fields throughout Texas, New Mexico and Oklahoma, necessitating the need to centralize compliance efforts through its headquarters in Ft.Worth.

For the IT department, ensuring SOX compliance means being able to account for all IT assets, making sure systems are maintained regularly and consistently, protected from malicious security threats like spyware and viruses, backed up properly and can be recovered easily in case of data loss. Cano also has to ensure that help desk issues are dealt with accordingly, corporate resources are not being used for personal use (within reason) and the company is in compliance with the software licensing agreements it has in place with vendors. Read more on Cano Petroleum Inc

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Allstate Case Study

With assets in excess of US $134 billion, revenues of more than US $32 billion and nearly 40,000 employees, Allstate serves more than 16 million households and is the largest publicly held property and casualty insurance company in the United States. In 2000 Allstate internal audit implemented a formal IT control framework and adopted Control Objectives for Information and related Technology (COBIT). Allstate internal audit uses COBIT to scope and plan all audits. In addition, efforts are underway by Allstate’s infrastructure group to build-in appropriate COBIT controls into select infrastructure processes.

Allstate Case Study

After the Sarbanes-Oxley Act was passed in the US, Allstate began using COBIT to evaluate IT governance and control, obtain benchmarks for assessing automated controls embedded in key business processes and assess the control activities performed by the company’s application support team. COBIT helps ensure alignment between business strategies and technology investments. Allstate has also found that COBIT helps it achieve an effective balance of appropriate and consistent controls to improve the efficiency and effectiveness of the business. Click here to read more…

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A Case Study on National Foundation for Corporate Governance

Background : SPJIMR, one of the top ten among 700 management institutes in India, has pioneered the Family Managed Business program since 1997. The institute has developed an insight into the management and performance of family managed business in India. Thus, when National Foundation for Corporate Governance (NFCG) accredited SPJIMR as an institute for carrying out research and training in corporate governance (CG).

Corporate Governance by Family Managed Business: The study began with a review of the concept and evolution of CG practices in the developed countries, particularly UK and USA. This included a study of the events which brought into focus the need for better governance standards and the recommendations of various committees like the Cadburry committee in UK, the Cal PERS – California Public Employees Retirement System, the OECD Task Force and the Sarbanes Oxley Act in USA…
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