Financial Regulation
Global markets with increasingly rigorous financial legislation and regulation have set higher business process standards. Now that business is truly international, UK legal compliance is no longer sufficient and other regulatory regimes must be considered.
This raises the level of auditing required and, as a result, the amount of information that has to be held and accounted for. Realistically, the volume and detail of information that needs to be tracked can only be managed by the new technologies underlying the latest generation of accounting, document management, workflow and related software solutions.
It is impossible to cover the vast swathe of regulation in brief, so here are two examples of important legislation that have a significant impact across the entire spectrum of business, industry and government. They are the US-enacted Sarbanes-Oxley Act 2002 and the UK Financial Services and Markets Act 2000.