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Sarbanes Oxley

The Sarbanes-Oxley Act of 2002 serves to protect investors and workers from corporate accounting fraud. The Act applies to any company making public filings. Sections of the act cover accounting reporting and oversight, executive reporting, and internal information flow.

With all the talk and confusion surrounding the Sarbanes Oxley Act of 2002, companies are scrambling to find time, money and people that will insure their compliance with SOX. Interpretation of the SOX Act and auditor directives continuously changes.

SOX impact on business processes and systems will continue to be dramatic with each passing year. SHRC believes that the more unclear, complex, dynamic, and aggressive a project is, the more an organization needs a structured approach to planning and controlling the initiative. SOX compliance is very much this type of project. SOX is a challenging blend of process improvement, system enhancement, and culture change.

What is our Process?

We create a Six Phase Project Plan:

  • 1. Plan, Scope and assess SOX Project
  • 2. Identify and document key processes and controls
  • 3. Evaluate control design, operational effectiveness
  • 4. Identify and remediate deficiencies/weaknesses
  • 5. Establish ongoing audit/monitoring procedures
  • 6. Build-in sustainability

We development an Internal Control System for SOX Compliance:

  • 1. Establish a Compliance Committee
  • 2. Assess Risk
  • 3. Set Reporting Objectives
  • 4. Prepare a Formal Implementation Plan
  • 5. Communicate the Procedures
  • 6. Provide Training
  • 7. Document Processes and Risk Management
  • 8. Perform Continuous Evaluation

 Our Sox certified (CSOX) team has experience in creating project plans, leading and performing the documentation and testing for SOX compliance from both the external audit and internal audit perspectives. Let us help you with your SOX compliance today.