| Section
Number |
Description
of Rule |
How
Business Data Connect Supports the Rule |
| Section
103: Auditing,
Quality Control, And Independence Standards And Rules |
The
Board shall:
(1) register public accounting firms;
(2) establish, or adopt, by rule, "auditing, quality
control, ethics, independence, and other standards relating
to the preparation of audit reports for issuers;"
The Board requires registered public accounting firms
to "prepare, and maintain for a period of not less
than 7 years, audit work papers, and other information
related to any audit report, in sufficient detail to
support the conclusions reached in such report." |
Business
Data Connect supports your efforts to prepare documents
for inspection and audit. It captures and stores your
data to a remote server where the files are stored securely
and safely until inspection. A backed up file can remain,
indefinitely, on our servers until it is needed for
audit or inspection. Our remote backup system allows
access only to the correct username/password combination;
the file can be restored to your local desktop, either
via the Business Data Connect client or through our
Web Restore interface. |
| |
Section
104:
Inspections of Registered Public Accounting Firms |
Quality
inspections must be conducted annually for firms auditing
more than 100 issues per year, or every 3 years for
all other firms. The SEC or the Board may order impromptu
inspections of any firm at any time. |
Again,
Business Data Connect gives users on-demand access to
their data. An inspector may access any file stored
to the Business Data Connect remote backup system in
order to perform the required inspection. Additionally,
different historical versions of a file can be restored
and inspected to compare and contrast a document's revisions. |
| |
Section
105(d):
Investigations And Disciplinary Proceedings; Reporting
of Sanctions |
All
documents prepared or received by the Board are regarded
"confidential and privileged as an evidentiary
matter (and shall not be subject to civil discovery
or other legal process) in any proceeding in any Federal
or State court or administrative agency, ...unless and
until presented in connection with a public proceeding
or [otherwise] released" in connection with a disciplinary
action. |
When
you use Business Data Connect to backup your data, you
are using some of the best encryption and data protection
tools available to maintain complete confidentiality.
From the moment you perform your first backup, your
data is encrypted using 448 BIT encryption, the strongest
available. The files themselves are encrypted on your
computer before leaving your office - and remain encrypted
until you access them again. The files are sent over
port 308, a non-standard port designed to avoid the
high traffic ports usually associated with Internet
communications and hacking. Once stored on our servers,
the files stay encrypted. |
| |
Title
VIII:
Corporate and Criminal Fraud Accountability Act of 2002 |
"Knowingly"
destroying or creating documents to "impede, obstruct
or influence" any federal investigation, whether
it exists or is contemplated, is a felony. |
We
employ the latest technology available to prevent
unauthorized access to your data, and our data center
is restricted to our Administrators only. The main
data center uses state-of-the-art security including:
*
Halon fire suppression system
* Diesel generator backup power supply
* Full systems redundancy, including redundant network
connections from Tier One providers
* Cypher-locked doors, access restricted to authorized
personnel
* 24 X 7 on-site systems administration
* Climate controlled environment
* Surveillance |
| |
Section
802:
Mandatory Document Retention |
This
section instructs auditors to maintain "all audit
or review work papers" for five years. from the
end of the fiscal period during which the audit or review
was concluded. It also directs the Securities and Exchange
Commission (SEC) to disseminate, within 180 days, any
necessary rules and regulations relating to the retention
of relevant records from an audit or review. This section
makes it unlawful knowingly and willfully to violate
these new provisions -- including any rules and regulations
disseminated by the SEC -- and imposes fines, a maximum
term of 10 years' imprisonment or both. |
Business
Data Connect supports SOX requirements for mandatory
document retention by storing audit and review work
papers for an indefinite amount of time. Business Data
Connect captures multiple historical versions of those
documents enabling auditors to access to multiple versions
of the same document as it changed over time |
| |
Section
802:
Document Alteration or Destruction
Section
1102:
Tampering With a Record or Otherwise Impeding an Official
Proceeding |
This
section criminalizes knowingly altering, destroying,
mutilating, or concealing any document with the intent
to impair the object's integrity or availability for
use in an official proceeding or to otherwise obstruct,
influence or impede any official proceeding. |
Business
Data Connect protects your business by storing historical
versions of documents that could potentially be the
target of malicious destruction. Any file maliciously
destroyed on a local PC or server could be restored
in minutes from our secure servers. Business Data Connect
effectively mitigates your risk of prosecution by protecting
data integrity and availability for official proceedings. |
