UK Sox is (still) coming - it's time to prepare

When will the UK SOX mandate come into effect in the UK?

2022

2023

2024

No date set yet

Who will enforce the UK SOX mandate?

Financial Reporting Council

Companies House

Department for Business, Energy & Industrial Strategy (BEIS)

HMRC

Which of these are part of the potted history of UK SOX?

The BEIS whitepaper

The 2018 Kingman review

All of these answers

The 2019 Brydon report

How should you make decisions on your technology needs?

You do not need and additional technology to cope with UK SOX

Look at your entire end-to-end process and consider your ecosystem as a whole

All of these answers

Invest only in what you need to satisfy the regulators

When should you start preparing for UK SOX?

As soon as an implementation date is announced

12 months before the mandate becomes effective

Now

6 months before the mandate becomes effective

What transformation is needed to prepare for UK SOX?

A mixture of operational, organisational and technological transformation

Operational transformation

Organisational transformation

Technological transformation

Which of these are actions that the author recommends for preparing for UK SOX?

Establish strong leadership, centralise controls, make time to fail

Make time to fail, centralise controls, create as many UK SOX controls as possible

Establish strong leadership, create a connected environment, create as many UK SOX controls as possible

Establish strong leadership, make time to fail, create as many UK SOX controls as possible

Which of these questions is NOT specifically recommended by the author as one you should ask when building your UK SOX tech stack?

Are we getting the insight and the value out of this as and when we need them to identify key risk indicators in real time?

How much will it cost?

How can it be used to enhance and monitor controls?

How can we automate repetitive tasks that often take lots of time and can be a key point of failure?

How many numbered action points has the author suggested?

10

9

7

5

Where should strong leadership come from in order to prepare for UK SOX?

The human resources team

The employees

The C-suite having understood the challenges that employees on the ground are going to face

The C-suite

UK Sox is (still) coming - it's time to prepare

When will the UK SOX mandate come into effect in the UK?

Who will enforce the UK SOX mandate?

Which of these are part of the potted history of UK SOX?

How should you make decisions on your technology needs?

When should you start preparing for UK SOX?

What transformation is needed to prepare for UK SOX?

Which of these are actions that the author recommends for preparing for UK SOX?

Which of these questions is NOT specifically recommended by the author as one you should ask when building your UK SOX tech stack?

How many numbered action points has the author suggested?

Where should strong leadership come from in order to prepare for UK SOX?

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