Sarbanes Oxley (SOX) Act, 2002 is a widely known compliance enforced as a response to various corporate scandals and white-collar crimes, which led to fall of many corporate giants. To ensure transparency in financial reporting and safeguard the interests of shareholders, this compliance was formulated. SOX compliance is not just a legal obligation but also a good business practice. Implementation of SOX financial security controls also benefits the organization from data theft by insider threat or cyberattack.
Our SOX compliance review team are experts having rich experiences in multiple engagements in multi-national organizations. We adopt a top-down approach for risk assessment while planning the scope of the engagement. Our team has expertise into test of design and test of operating effectiveness of processes and/or transactions in scope.
We provide a range of SOX compliance review activities:
- Risk assessment in accordance to relevant PCAOB auditing standards
- Evaluation and test internal controls over financial reporting as per relevant sections of SOX Act through development of risk and control self-assessment matrices
- Study of “as-is” process of the organization, assess gaps in internal controls, and recommend “to-be” process ensuring control gaps are bridged
- Adoption to the widely accepted frameworks such as COSO, COBIT etc.