Sarbanes-Oxley Compliance

Complying with business regulations can be burdensome, and create distractions from executing corporate business strategy.  Most notably in recent years, the Sarbanes-Oxley Act of 2002 (aka SOX) imposes significant demands on financial and operational management.  Requirements include certifications by the company’s principal financial officer and principal executive officer about their quarterly and annual financial reports, and an annual assessment regarding the effectiveness of its internal controls over financial reporting (“ICFR”). In addition, the Independent Accountants that audit the financial statements must also audit ICFR.

Documentation must be carefully planned and prepared to support Management’s Assessment and the auditor’s opinion. While a disciplined approach to this effort can provide an enhanced control environment in a cost-efficient manner, a poorly managed program can be a significant drain on financial and human resources.  Key Control Definition is a critical step in the Sox compliance process.

The Precipio Group has extensive experience at every stage of implementing and maintaining an effective ICFR program, helping companies achieve compliance in a cost-efficient manner. Our Sox Compliance Methodology is based on current regulatory guidance, following a ‘top-down’, ‘risk-based’ approach.  Follow the link at left for more information.  Depending upon your needs, we balance the role of providing guidance and project management to internal resources, with providing hands-on resources to execute the critical tasks until your organization is adequately prepared to perform them independently.  We also work closely with your auditors to align their approach and expectations with the philosophies and positions of Management. We can help you with all stages of your Sox compliance efforts, from your initial program at IPO time, to streamlining your existing Sox program.

In addition to Sarbanes Oxley compliance, we call also assist you in compliance efforts associated with other regulatory authorities such as SEC, NASD, FDIC, OCC, OTS, NAIC and HUD, to help you meet your obligations so you can focus on running a successful business.