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Study Suggests Sarbanes-Oxley Should Kick Start Tech.(Sarbanes-Oxley Act of 2002)(Financial institutions)

A new study suggests that despite enormous attention to the Sarbanes-Oxley Act itself, relatively little consideration has been paid to the role of technology in helping financial institutions meet compliance requirements-or to the long-term opportunities offered by the Act.

New research from TowerGroup suggests that financial institutions should view the act as a catalyst for long-delayed business transformation.

"Sarbanes-Oxley does not specifically mandate investments in technology to meet its rigorous financial reporting requirements," said TowerGroup. "Yet in most financial institutions, financial reporting is inextricably linked to information technology ...

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