Tuesday’s Purchtips alluded to the Sarbanes-Oxley Act (SOX). For those unfamiliar with this law, SOX applies to publicly-held companies who are now required to have “financial controls” in place, some of which involve procurement. A somewhat dated, but still relevant, article on this can be found at http://www.purchasing.com/article/CA502332.html

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If you’re a subscriber to Inside Supply Management magazine, you can also find an article at http://www.ism.ws/pubs/ISMMag/ismarticle.cfm?ItemNumber=12532&token=52578&userID=

Because this law is still relatively new, new processes and procedures are continuing to be developed to ensure compliance.

To Your Career,
Charles Dominick, SPSM
President
Next Level Purchasing, Inc.
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Charles Dominick, SPSM, SPSM2, SPSM3

Charles Dominick, SPSM, SPSM2, SPSM3 is an internationally-recognized business expert, legendary procurement thought leader, award-winning entrepreneur, and provocative blogger. Charles founded the Next Level Purchasing Association in 2000, oversaw its incredible growth, and successfully led the organization to its acquisition by the Certitrek Group in 2016. He continues to blog and provide advisory services for the NLPA on a part-time basis as he incubates his upcoming business innovations. Charles is also the co-author of the wildly popular, groundbreaking book, "The Procurement Game Plan: Winning Strategies & Techniques For Supply Management Professionals."

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