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SOX vs. SOC: What Is The Difference? [Complete Guide]

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It is designed to increase auditability within the organization and help detect internal fraud or theft. SOX” is a commonly used acronym that refers to the Sarbanes-Oxley Act of 2002. SOC reports were created by the AICPA amidst the rise of cloud computing, which has increased accessibility to applications and data.

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Choosing a Governance Risk and Compliance Tool: Constant Vigilance

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GRC is an integrated approach to managing the organization’s governance, IT and security risks, and regulatory compliance functions. Effective governance enables senior management to oversee, control, and coordinate employees, resources, applications, infrastructures, and behaviors. What Is GRC? Clear Organizational Hierarchy.

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IRM, ERM, and GRC: Is There a Difference?

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For example, retail is now “e-tail,” manufacturing plants are increasingly automated, and nearly every step of the hiring and contracting process happens online, from application to background checks to payroll. 2002-2007): Financial reporting, Sarbanes-Oxley Act (SOX) compliance, and their related IT controls.