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Compliance with Sarbanes-Oxley (SOX)
The Sarbanes-Oxley (SOX) Act, passed in the year 2002, outlines the procedures of storing financial records. All companies and business organizations must comply with the SOX procedures of financial records storage, ensuring that there are no accounting error related scandals or illegal financial activities. The Sarbanes-Oxley Act legislates the time period, during which the financial records of the company must be maintained, along with the manner in which they should be done so.
The SOX Act entails a more secure approach to the storage of records of financial transactions and for companies to comply, they must follow the general rules of the Act. The areas of compliance include the maintenance of all electronic financial records for a period of at least five years, which ensures that auditors and other regulators have easy access to the requested documents.
Electronic backup systems allow businesses to secure the trail of financial transactions and make them compliant with the SOX Act. Using our off-site backup system ensures that the data files backed up are encrypted on transmission and are stored in the encrypted format so as to remain fully secure. Our online storage facility ensures that the information is completely secure, accessible only by authorized users and available 24/7, every day of the year.
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