BASKING RIDGE, N.J. - Verizon Business will receive the 2006 Technology Managers Forum Best Practices Award in IT Compliance for the company's Sarbanes-Oxley compliance program. The award will be presented Oct. 19 during the 13th Annual Technology Managers Forum Conference and Security Forum in New York City.
This marks the second year in a row Verizon Business has received a Best Practices Award from the Technology Managers Forum.
Verizon Business' Sarbanes-Oxley compliance program evaluates the information technology group's system of internal controls in accordance with the federal law, which requires publicly traded companies to evaluate and report the effectiveness of their internal controls related to financial reporting. It also requires that independent auditors confirm those findings.
"Verizon Business strives to be a role model in IT governance and compliance," said Judy Spitz, Verizon Business' chief information officer. Spitz heads the company's Sarbanes-Oxley Compliance Program Office, which is responsible for maintaining and improving IT controls and monitors more than 30 of the company's largest revenue and transaction volume applications.
"The resources Verizon Business dedicates to this effort demonstrate our strong commitment to deliver superior IT systems that meet the strict requirements of the law," said Spitz."
Pricilla Tate, executive director for Technology Managers Forum, said, "Verizon Business has once again shown it delivers innovative IT processes. Their Sarbanes-Oxley IT Compliance Office demonstrates an edge in using IT systems and processes that enhance the company's ability to comply with this legislation - exactly the type of best practice our judges like to highlight."
The foundation of the Verizon Business IT compliance group's initiative includes:
- Partnering with the finance department to define the compliance process and control framework
- Setting the tone and demonstrating the commitment at the senior-executive level
- Establishing a proactive audit process
The Best Practice Awards (BPA) is an annual program sponsored by Technology Managers Forum. The awards recognize quality achievements in technology management that provide a competitive advantage to the business environment. The term "best practice" denotes a standard of excellence that has been achieved within an organization and refers to a process that can be quantified, adapted and repeated.
In 2005, the forum presented its 2005 Best Practices Award for Technology Innovation to Verizon Business (formerly MCI) for the company's IMPACT (Integrated Management Platform for Advanced Communications Technologies) network management platform.
Susan Diemer, IT compliance director, and Cydney Shields, IT Sarbanes-Oxley compliance manager, will represent Verizon Business at the awards luncheon. Both employees were instrumental in developing the Verizon Business IT Compliance Program Office.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced technology and professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.