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Compliance Risks
The Sarbanes-Oxley Act, HIPAA, the Gramm-Leach Bliley Act, Basel II, SEC Rule 17a-4, NASD 3010 and 3110 are among the evolving regulations requiring companies to comply with a tremendous number of retention periods, storage methods and other regulated retention and disposition specifications.
Acumetric software is designed to be a key component in ensuring that individuals, organizations or businesses with record retention requirements are able to objectively measure the accessibility of their data for reporting purposes.
Accessibility, in the Acumetric sense of the word, incorporates factors such as the intactness, the portability, or the suitability of data for long term storage.
HIPAA, for instance, requires retention of health care information from 2 to 21 years. Further, the new regulations and the agencies which enforce them can impose penalties; in 2002 several finance firms were fined $1.65 million each for not retaining records correctly.
Acumetric software can assist in identifying the condition and cause of poorly maintained data and offer solutions for avoiding the negative impact that bad data can have on your reporting requirements.
Please contact Acumetric for more information.
