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specifically states that electronic records must be saved for at least
five years to ensure that the auditors and other regulators can easily
obtain requested documents. |
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legislates how long and the manner which companies store their
financial records. Created largely in response to the Enron and
WorldCom scandals, the SOX act is designed to safeguard against
accounting errors and other illegal financial activities. In placing a
more rigorous requirement on financial reports the storing of the
records becomes vitally important because the trail of transactions
must be secure.
The regulated companies in
choosing a storage method will therefore look to a format that will
insure it can satisfy the legal requirements of the SOX, in other
words, the increased use of online remote data storage
facilities/programs.
As an online data storage facility, IDrive is not privy to the contents
of the information stored for a client. The customer must maintain
responsibility for ensuring that it is in compliance as to what
information is being kept and who in the organization (including
independent auditors) has access.
IDrive maintains responsible for the
availability and security of the information being stored and has put
safe guards in place to ensure quality control standards, including the
following:
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The
data files backed up are encrypted on transmission using 128-bit SSL
and the data files are stored encrypted using AES 256-bit encryption
and automatically decrypted during restores. The encryption is done
based on a user defined key, so the data stored on IDrive servers
cannot be decrypted by anybody other than you or a designate |
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Access is logged with a date and time stamp by IDrive each time a document is accessed by a user |
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Client access is only through authorized personnel with the encryption password, which is known only to the client |
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All backups are immediately available |
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Data remains in the IDrive customer storage areas for as long as the client retains it |
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