SOX and Compliance

SOX requirements and compliance buffalo nyThe Sarbanes-Oxley Act (SOX) was enacted as a result of corporate mismanagement and accounting scandals which took the business community by storm. The intent of this bill is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws. It put into place a series of guidelines that all publicly traded companies must adhere to which are designed to hold the company accountable for having accurate financial data. The SOX Act also requires a company to have adequate controls in place to safeguard financial data. Your year-end financial reports must contain an assessment of the effectiveness of these internal controls. If your company is not compliant with SOX guidelines, you could be subject to legal penalties.

How Our Firm Can Help You Comply with SOX Requirements

With experience in all aspects of the SOX process, we function as outsourced internal auditors and/or in conjunction with independent auditors to:

  • Identify key control objectives
  • Develop audit frameworks
  • Write audit narratives
  • Develop narratives and walkthroughs to test and validate existing internal controls
  • Provide compliance testing and COSO compliance
  • Identify and remediate deficiencies
  • Throughout this process we will work with your company’s management team by providing risk management assessments and recommendations for process improvements which will allow your management team to make optimal business decisions and maximize your company’s strategy.

If you have questions about SOX requirements, internal audits or any other compliance issues surrounding your business, call us at 716.565.0565 to schedule a free consultation. We will answer your questions and help you protect your business.