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  • Other Added - How To Bring Database Management In Tune With Regulatory Compliance

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    What is Regulatory Compliance? Regulatory Compliance Acts make it mandatory for public companies to evaluate, review, restructure and make a detailed report of the internal controls in place for financial statements. The report has to be given a “clean chit” by external auditors. These Acts seek to prevent financial misstatements, and reduce fraud in public companies.

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    What is Regulatory Compliance? Regulatory Compliance Acts make it mandatory for public companies to evaluate, review, restructure and make a detailed report of the internal controls in place for financial statements. The report has to be given a “clean chit” by external auditors. These Acts seek to prevent financial misstatements, and reduce fraud in public companies.

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    used for accessing and maintaining records, and protecting the financial systems from misuse. Here are some tips to ensure good data management practices.

    1) The appropriate management must be notified of data management ownership and they must understand their responsibilities.

    2) Data systems should be listed, their managers notified, and the number of databases, types of information software used, the underlying operating system, access conditions, and other utilities should be listed.

    3) Review the potential threats to information stored in databases, and call for periodic reassessments.

    4) The data should be properly catalogued, so extraction and tracking become easier.

    5) There should be data backup in place.

    6) The responsibilities regarding database management must be delegated in a way that it prevent

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