Approach your audits
with confidence
There is a pretty accurate rule of thumb when it comes to demonstrating 404/SOX compliance — if it’s not keeping you up at night, it’s keeping someone else up. Your fixed assets have a very specific — and often underestimated — role in how you maintain compliance. Because your fixed assets have value and appear on the balance sheet, you need to have the checks and balances in place to ensure that your fixed assets are reported accurately.
One of the challenges lies in the fact that there is no off-the-shelf 404/SOX certified solution because your fixed assets are just a piece of the entire puzzle. Rather, being compliant comes from your ability to prove to your auditors that you have processes and controls in place to accurately account for your fixed assets.
With VAM you will have the security, accuracy and visibility you need to easily demonstrate 404/SOX compliance:
- Security: Restrict access at the user level to manage adding, editing, viewing and reporting on your fixed assets. Even if data is changed or deleted, the transactions are flagged by user and the historical data can be recovered from the SQL database backups.
- Accuracy: Remove the human error with automatic calculations for your depreciation conventions. With VAM’s Mobile Barcoding solution, you can reduce human error associated with data collection.
- Visibility: Easily access your data through built-in reporting tools.
