New study results from Advisen indicate that Sarbanes-Oxley 404 compliance activities can prompt companies to further integrate risk manangement throughout the enterprise. Business Insurance reports that 23.4 percent of risk managers who said their companies had or were planning to implement an enterprise risk management program also said it was motivated by Sarbox requirements.
And those who do integrate risk management with compliance efforts say the combination does much to "raise the visibility of the risk management department within the organization," the story says.
On the other end of the spectrum, however, the survey also revealed that only 23 percent of companies responding had risk management representatives on the committees that monitored Sarbox section 404 compliance. In fact:
A number of respondents expressed the opinion that there is a clear distinction between the requirements of Section 404 and the roles of the risk management department.