Sarbanes-Oxley (SOX) Act
Sarbanes-Oxley Act was mainly designed to provide correct financial reporting about public companies by ensuring the integrity of internal controls and procedures. Our SOX compliance service identifies and analyzes the gaps present in your current business architecture and integrate a solution to achieve mandatory tasks and requirements for financial reporting. Sarbanes-Oxley contains 11 requirements, each of which have several sections (corporate responsibility, analyze conflicts of interest, studies and report, enhanced financial disclosures, corporate tax returns, and others).
Features
- Identify the financial reporting structure.
- Determine the entity-level controls that address financial statement risks.
- Establish and maintain an adequate internal control structure and procedures for the financial reporting.
- Implement the processes to follow those policies and procedures.
- Test-check each process with specific parameters.
- Validate the control objectives against each set of SOX requirements and report their effectiveness to the management.
Benefits
- Assure the confidentiality, integrity and availability of financial information.
- Increases the corporate security by pushing tight controlled environment.
- Improved the internal controls and financial statements.
- Organize and standardize the organization IT process.
- Implement greater security controls for the IT management systems.
- Increases the corporate visibility in the market and share prices.
- Provides greater satisfaction to the investors of publicly traded companies.
- Helps to achieve and maintain compliance with other regulatory acts.
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