Corporate Executives and Auditors Try On SOX

May 2005

Kent Wesley, CCE, an executive with 25 years of finance and credit experience and user of Emagia’s Cash Inflow Manager, a software-based solution for SOX compliance, pointed out the effects of SOX will have on credit departments. “It may provide an extra level of protection for the investor, but it presents an additional cost and inefficiency in the book-to-credit subjective decision making that credit professionals have been used to making as a result of their experience. “The credit manager would be tempted to add another layer of documentation,” Wesley said. “It’s going to take some wheeling and dealing and shoot-from-the-hip decision making and transform it into documented decision making.”