Clicking through the latest news on Sarbox this afternoon, I ran across this headline from yesterday's Contactless News: Will RFID Add Required Visibility for Corporations Struggling with Sarbanes-Oxley? Maybe for some of you the connection is obvious and immediate, but I had to wonder what on earth RFID has to do with corporate accounting and reporting requirements.
So I kept reading. And writer David Wyld makes a good point. He says using RFID (or radio frequency identification) to accurately track inventory and manage assets can -- and he argues will -- be an "indispensable" element of the system of internal controls required by Sarbanes-Oxley sections 302 and 404.
[W]ith RFID-enabled warehouses, distribution centers, equipment, yards, offices, etc., one can gain real-time, complete visibility within a company's supply chain operations. Visibility in inventory and asset management thus becomes a foundational element for accuracy in a firm's financial reporting.
Definitely food for thought ... and maybe even cause for action.