Educause Security Discussion mailing list archives
Re: Does the Sarbanes-Oxley Act apply to Higher Ed too?
From: "David L. Wasley" <david.wasley () UCOP EDU>
Date: Mon, 29 Sep 2003 10:15:37 -0700
Well, IANAL (I am not a lawyer) but the Act begins with the statement: "To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes." I've interpreted that to mean "publicly traded corporations" which would not apply to a state institution such as UC. However, that last little clause might augment the interpretation - i.e. to any corporation that claims to be acting in the public interest or for the public benefit. In any case, we should be 'doing the right thing' regardless of what a particular law requires. I think executive level sign off on IT security requirements and implementations makes a lot of sense. I think too often it's one of those 'won't fix the roof until the horse has left the barn' sort of issues... David ----- At 9:50 AM -0600 on 9/29/03, Clyde Hoadley wrote:
I know several institutions of Higher Education were taken off guard by Gramm-Leach-Bliley. Does the Sarbanes-Oxley Act apply to Higher Ed too? If so, how? Title: Security and Sarbanes-Oxley Source: SearchSecurity Date Written: September 25, 2003 Date Collected: September 26, 2003 The Sarbanes-Oxley Act, which was signed into law by President Bush on July 30, 2002 and will take effect in 2004 and 2005, was meant to deal with a variety of corporate governance issues, making upper management accountable for a company's actions. A by-product of the Act may be to involve senior management in information security. Under the Act, CEOs and CFOs are mandated to attest that their companies have proper "internal controls" in place. Internal controls are widely interpreted to include adequate data and network security, thereby forcing senior executives to sign off on IT security issues. Security product vendors view the Act as an opportunity to sell their wares, but no single product currently exists that guarantees compliance. In the long term, the Act may help improve security, testing and awareness. http://searchsecurity.techtarget.com/originalContent/0,289142,sid14_gci929451,00.html -- Clyde Hoadley Security & Disaster Recovery Coordinator Division of Information Technology Metropolitan State College of Denver hoadleyc () mscd edu http://clem.mscd.edu/~hoadleyc/ (303) 556-5074 ********** Participation and subscription information for this EDUCAUSE Discussion Group discussion list can be found at http://www.educause.edu/cg/.
********** Participation and subscription information for this EDUCAUSE Discussion Group discussion list can be found at http://www.educause.edu/cg/.
Current thread:
- Does the Sarbanes-Oxley Act apply to Higher Ed too? Clyde Hoadley (Sep 29)
- <Possible follow-ups>
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? Melissa Guenther (Sep 29)
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? David L. Wasley (Sep 29)
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? Ariel Silverstone (Sep 29)
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? Mary Shaffer (Sep 29)
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? Clyde Hoadley (Sep 29)
- Re: Does the Sarbanes-Oxley Act apply to Higher Ed too? Scott Bradner (Sep 29)