Sarbanes-Oxley (SOX)

Sarbanes-Oxley (SOX) Consulting Services

Overview

The Sarbanes-Oxley Act (SOX) created an accounting and compliance framework to which public companies must adhere. We have a full suite of SOX solutions for both accelerated and non-accelerated filers. Our approach incorporates the top-down, risk-based approach of the PCAOB’s Audit Standard #5 (AS5) as well as the SEC’s recent guidance to registrants.

With multiple turn-key compliance engagements behind us, we understand the challenges registrants face in adhering to SOX requirements. We are committed to delivering compliance projects that leave a company’s organization in better shape upon completion than when it started out down the road to compliance. Private companies preparing for an initial public offering or that seek to improve internal controls would also benefit from SOX compliance.

Our cost-effective SOX compliance service leverages technology to provide efficient information flow to Management, the Board, and the external auditors regarding the status of the project and related issues surrounding the internal control environment. Our SOX compliance services include:

Internal Controls Documentation and Evaluation Services

  • Financial reporting risk assessment focusing on quantitative and qualitative factors
  • Document internal control environment (business process & IT)
  • Test and evaluate control design and effectiveness
  • Track and help clients remediate gaps
  • Recommend a plan for improvement and continuous monitoring

Outsourced Internal Audit and IT Audit Services

Many companies view an internal audit function as a cost center that is only useful in a large public company. However, an effective internal audit function (whether it be full time staffed with company employees or part time with outsourced professional resources) can save a company hundreds of thousands of dollars every year.

Our skilled and versatile internal audit specialists can assist in the creation or establishment of an internal audit function, in the on-going internal control monitoring, and provide company management with sound consulting advice through a fresh and independent look at company operations.

A critical component to any internal audit function is the performance of a thorough enterprise risk assessment (ERA). A properly performed ERA will help to prioritize internal audit resources, which is especially important considering that such resources are usually limited due to budget constraints. SSAE 16 Professionals staff are experienced at performing such ERA’s to help ensure limited audit resources are focused on things that matter most to the strategic direction and ultimate financial success of our clients.

SSAE 16 Professionals understands and follows the COSO and COBIT internal control frameworks, utilize a risk based approach, and focus on people, process and technology when performing professional services for our clients. Our services help you to assess your control environment and establish your ongoing compliance plan, compliment your existing independent audit relationships, and enhance the overall quality of your corporate governance. The benefits of an effective internal audit function include:

  • Internal audit activity is a critical component in possessing strong and effective corporate governance.
  • Satisfies New York Stock Exchange (NYSE) requirements of having an internal audit function for public companies listed on the NYSE.
  • Helps management to improve efficiencies in operational processes.
  • Helps combat, control or minimize the negative effects and financial losses associated with fraudulent activity.
  • Helps companies achieve their organizational objectives related to operations, financial reporting and regulatory compliance.
  • Assists management in its on-going assessment of its internal control environment required by Sarbanes-Oxley Section 404a and 404b.
  • Can help to lower the costs of a company’s annual financial audit when external auditors are able to rely on work performed by independent, objective and competent internal auditors.

Resources

SSAE 16 Professionals has assembled top tier leadership to help our clients through the SOX Compliance process. For further information regarding SOX Compliance, or to request a fee proposal from SSAE 16 Professionals, please visit our Contact Us page to submit an informational form or call1-866-480-9485 today. We look forward to hearing from you!