SOX - It is a complaince process:
SOX process supports where there is any transaction happens with related their income & expenses.
If any company listed under NYSE, they need to be certified and their process needs to under SOX. SOX process is nothing but it is totally a control mechanism
For HR Process reltated
1. The SOX will look for evidance for maker, checker and approval concept in terms of updating the data in the payroll / HRIS software / outsourcing activities.
2. For Maker : before he updates the data in payroll - the control mechanism look for approval for the data which to be updated from the process owner / budget owner / project owner - the approval is required from the person whose is responsible for profit & loss for the unit / department / team.
3. Post the update in payroll software, with the necessary approval, the maker needs to inform the checker, who needs to validate the data updated through hard copy or soft copy.
4. Then the checker needs to inform the approver, to approve the same.
This control mechansim - to be incorporated in all kind of HR process which linked to the payroll (Incentive, OT, Leave with out pay, any allowances, PF, ESIC, Labour welfare activities, etc).
If you need more information, you can reach me on [IMG]https://www.citehr.com/misc.php?do=email_dev&email=cm9ib2dyYWpAaG90bWFpbC 5jb20=[/IMG]
Thanks
robograj