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By Susan Dixon, Marketing Director, Savenet Solutions
January 10, 2013

SaveNet Online Data Backup Expert Tips: Sarbanes-Oxley (SOX) and Online Backup

There are many reasons to backup and secure your data one of the most important is that it is often a requirement of regulation. This is the first in a series of posts about various regulatory requirements placed on enterprise and how an IT department should think about them from a compliance perspective.

Sarbanes-Oxley
SOX or Sarbox, is designed to “protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.” Section 302 of the Sarbanes-Oxley Act on corporate responsibility for financial reporting requires certification of financial statements by both the CEO and the CFO. This means that all financial reporting must be thoroughly verified by management with more accuracy than ever before. IT departments supporting financial systems will also have to ensure the accuracy of these records.

Making sure you can support the financial statements and the data that backs them up is a vital component of complying with the law.

IT Compliance and SOX
Making sure your IT department supports this compliance with SOX is vital. Here is a bulleted list of the basic requirements of SOX compliance.

  • Establish access controls based on job responsibilities
  • Log successful access attempts to mission-critical resources
  • Require authentication
  • Enable system events (logging)
  • Keep data physically and electronically secure from unauthorized access
  • Data retention: seven years retention for audit reports and related materials
  • Immutability: Prevent the alteration, destruction, mutilation, concealment, falsification,of any record/document[1].

SOX and Online Backup
This 7 year secure data retention requirement might be difficult to achieve with older backup methods. Continuous online backup methodologies are a vital tool in controlling the cost of these types of backups. Almost as important is finding a provider who can handle your online backup requirements and also ensure you have the security and encryption required both in the storage and transfer of your data.

If you need to talk to someone about online backup and storage for regulatory compliance then get in touch today.

[1] – SOX implies the need for encryption to protect the integrity and confidentiality of financial information.

SaveNet Solutions, powered by Asigra, is an Irish cloud backup and disaster recovery company. SaveNet’s solution is specifically designed for Mid-sized to Enterprise organizations. SaveNet offers numerous value-added solutions, coupled with industry leading features, such as: – agentless technology, FIPS 140-2 certification, deduplication, and more.

About the Author: Susan Dixon is a Marketing Director at SaveNet Solutions, an Asigra powered cloud online data backup and disaster recovery company headquartered in Dublin, Ireland.

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