Sarbanes Oxley (SOX)
SOX Solutions for Smoother Financial Governance
With the release of auditing standard 5 (AS5) and the introduction of the risk-based approach, the finance leadership of accelerated publicly traded companies has stabilized the burden of SOX compliance.
What Elevate Can Do For Your Organization
- Perform Audit Committee governance control testing.
- Perform the risk assessment, materiality calculation, and define location/business entity scope.
- Provided internal controls over the financial reporting (ICFR) framework.
- Identify / document key controls and link such control back to the accounting financial assertions provided by the American Institute of Certified Public Accountants (AICPA).
- Perform financial controls as well as IT application and IT general controls testing.
- Provide a comprehensive summary of findings with management responses.
- Provide quarterly updates to the audit committee.
SOX Compliance – IT: Leveraging IT best practices (i.e. COBIT framework-specific control objectives) our IT auditors apply a common-sense approach when reviewing your IT general and IT application controls.
Accounting/Business Process: We ensure we are applying the latest and most relevant guidance to your business needs.
Whether you are an accelerated filer or in your first year of implementation, our compliance professionals work closely with your external audit firm and/or internal audit department to ensure the most cost effective and pragmatic solutions are met for your compliance needs. Following the Securities and Exchange’s (SEC) Guidance for Management, we help you rationalize your critical risks and key controls; develop supporting evidence for your controls design and operating effectiveness; and drive accountability for compliance throughout the organization.