Credit, Receivables & Collections
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AR/Credit SOX Compliance Impacted by Relationship with Sales
Article • posted 12/26/11
AR and credit pros understand that their companies' SOX compliance depends in part on accurate calculations and reporting from their own departments, since these significantly affect revenue recognition. AR and credit at many private companies are also impacted by certain SOX rules. What may be less well known is how certain practices by sales--and AR and credit pros' knowledge regarding those practices--can place AR and credit, as well as the whole company, in violation of SOX rules and therefore subject to fines and criminal prosecution.
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