PeopleSoft Adds To Compliance LineupPeopleSoft Adds To Compliance Lineup

PeopleSoft Inc. on Tuesday unveiled a software product to aid companies in achieving compliance with the Sarbanes-Oxley Act. Internal Controls Enforcer provides monitoring of key internal controls, alerts management to changes in controls, and enforces accountability throughout the organization.

Companies are about three-quarters of the way through the documentation stage of Sarbanes-Oxley's section 404, which requires management and auditors to monitor the effectiveness of internal control over financial reporting, says Renee Lorton, senior VP of financial-management solutions at PeopleSoft. Now they're moving into the testing stage, where they observe whether controls are working and fix those that aren't. For most companies, the deadline for compliance with section 404 is Dec. 31.

Enacted in 2002, Sarbanes-Oxley holds corporate directors and managers accountable for the veracity of financial statements.

PeopleSoft's compliance lineup includes products for other sections of Sarbanes-Oxley, such as accelerated reporting, executive certification of financial reports, and real-time disclosures of material weaknesses in controls. In all, the company says, 650 of its customers have standardized on PeopleSoft software for addressing corporate governance issues.