Regulatory compliance is something most CFOs will encounter over the course of their careers. They will be the ones responsible for making sure their companies comply with organizational, regional and even international regulations and laws. There are a number of common regulations businesses will need to meet if they do work in the cloud, and a good ERP system is a must to aid with the task of compliance.
The short answer to the question of whether or not you can be compliant in the cloud is: yes, you can. Most ERP cloud service providers have to adhere to many of the same regulations that your company needs to meet, and in some cases, they might even have more stringent policies than what SOX certification requires. Companies that need to meet SAS 70 certification should not encounter problems working with cloud ERP from a reputable provider.
Cloud ERP is also an excellent choice for companies looking to go public in the future. IPO-ready companies need policies and processes in place that are SOX compliant, and a good ERP cloud service provider will make the effort to ensure you are compliant long before it comes time to go public.
Compliance should not be a guessing game. When you decide to make the move to the cloud, investigate your potential ERP cloud provider carefully to make sure it will give you the tools you need to respond to audits efficiently and pass requirements without difficulty.