SOX compliance and consulting services

Infosec Mates has developed a strong reputation as a source of expertise on both the financial and information technology aspects of SOX. We bring decades of compliance and audit experience to every assignment. We have a targeted approach in delivering best practices, managing risks, and ensuring the most efficient use of resources. We leave a lasting impression by designing and executing compliance programs that are effective, efficient, and sustainable. Know more about our services and what is SOX compliance, SOX 404 compliance , SOX compliance check list.

We have a deep understanding of the complexity and expectations of planning and delivering SOX readiness and compliance services. We also understand the importance of collaborative relationships with client teams, audit committees and external auditors.With years of experience, we’ve learned how to meet the rigorous demands of the regulatory environment and communicate with auditors and audit committees within a risk-based framework. Our team’s objectivity and assessment quality can reveal internal control over financial reporting improvement opportunities and allow external auditors to rely on third-party work. And, we can flexibly scale to your specific needs and level of support.

SOX Consulting

Whether your company has had a Sarbanes-Oxley (SOX) compliance program for several years, recently went through an IPO or gearing up for the IPO; InfosecMates has a pool of experienced and qualified SOX consultants that can provide cost-effective solutions no matter what your needs. We believe that our SOX consulting solution is the leading cost-effective strategy in our industry.

Top-Down Risk Assessments:

We understand that section 404 requires a risk-based approach to your audit initiative and Assurance Concepts has a streamlined and efficient approach to analyzing your financials along with your business operations to identify and map out the necessary financial risks for your SOX 404 internal control assessment. Need help with a risk assessment, contact us to see how we can assist your organization.

Entity-Level Assessments:

We also understand that part of every organization’s control environment stems from the entity level controls and Assurance Concepts evaluates entity level controls through our in-house developed questionnaires based on the COSO framework. We provide companies assistance with the identification, testing, and documentation of entity-level controls.

SOX Control Diagnostic Assessment:

Have you evaluated your company’s control environments since the SOX initiative began? Whether it was two, three or five years ago, numerous companies have been continually testing the same number of controls since their SOX initiative started. Assurance Concepts has assisted organizations with reducing controls over 60% of their initial population. Think of the cost savings for your company by reducing testing of controls by 60%!

SOX Documentation Solutions:

InfosecMates provides detailed documentation of control environments whether it is creating network diagrams, process flow charts for accounts payable or narratives for your general computing controls our auditor’s depth of experience allows us to understand different environments and quickly establish all the documentation that is required for SOX.

SOX Solution Offerings

Keeping You in Line With SOX

SOX Solutions:

Counseling sponsors and steering committee members. Serving as the project management provider. Developing your approach, action plans, timelines and deliverables. Evaluating risk mitigation and internal control adequacy to recommend plans for improvement. Implementing internal control methodology and software. Providing ongoing monitoring of internal control framework and testing. Preparing periodic reports to management and audit committee.

Fully Outsourced Or Co-Sourced Compliance & Risk Management

Efficiently guide your organization towards compliance. Evaluate pre- and post-IPO environments for adequate risks and control coverage. Identify risks and provide mitigation guidance; Business/Finance and IT. Budget related costs effectively. Streamline processes to reduce redundancies. Scale evaluation to your organization’s size and complexity. Maximize external auditor reliance to minimize external audit fees.

Solving your concerns on SOX compliance

Availability of in-house skills to efficiently perform the mandatory internal controls testing. Designing controls to address identified deficiencies. Finding the right technology to assist with compliance. Staying current with ever increasing SOX 404 requirements. Managing costs of SOX 404 compliance.

A unique approach towards SOX Compliance

InfosecMate SOX practitioners include former chief audit executives, chief financial officers, and controllers — so we have personal experience with the internal control risks inherent in the financial reporting process. We isolate the risks and identify the controls that impact the integrity of your financial statements. Our experience with internal controls design, the PCAOB (Public Company Accounting Oversight Board), and external audit firm requirements helps minimize waste in the controls testing process while also helping to increase efficiency.

Sarbanes-Oxley Outsourcing

A proactive, customized approach to meet your SOX compliance demands

Sarbanes-Oxley (SOX) compliance continues to put pressure on financial reporting, IT and related compliance functions. Ever-evolving regulatory demands and strategies all contribute to the complexity— and expense—of SOX compliance. Despite these challenges, organizations can get ahead of SOX compliance by formulating a risk-based method to drive down costs, enhance effectiveness and provide additional value.

InfosecMates’s SOX-managed services allow your organization to tackle SOX compliance and extract value from the function. Our SOX outsourcing services lift the burden from your internal staff and allow us to not only identify financial reporting risks, but develop the most efficient way to mitigate them.

Our experienced team works directly with your leadership team to fully conceptualize the best approach to transforming your compliance function, utilizing innovative tools and analytics as well as cutting-edge automation solutions. Ultimately, we provide a completely customized approach that meets your specific SOX compliance needs

SOX COMPLIANCE EXPERIENCE

Our SOX compliance (Sarbanes-Oxley Act 404) consultants have dedicated thousands of hours to the implementation of SOX compliance methodologies at numerous multi-national companies, under scrutiny of each of the “Big Four” accounting firms. Our methodologies are designed around the COSO internal control framework, the IT Governance Institute’s CobiT and industry best practices. We apply a top-down, risk-based approach identifying effective ways to appropriately reduce effort and compliance cost through better risk assessment, scoping and use of technology.

We tailor our services to meet each client’s unique SOX compliance needs. Whether our arrangement is full outsourcing, co-sourcing or consulting, our team will work closely with the process owners, management and external auditors to ensure all compliance initiatives are met on schedule, on budget and in the highest quality.

Our SOX Compliance, J-SOX and C-SOX consulting services include:Project planning and management.Risk assessment, scoping and materiality.Documentation, testing and remediation of risks and controls.Communication with external auditors, executive management and the audit committee.Cost reduction by evaluating risks, optimizing controls, implementing risk-based testing and streamlining the overall compliance effort.

Our SOX Compliance experts can help you:

Plan, perform risk assessment and define scope
Document significant processes and related entity-level, financial, application and IT General controls
Identify key internal controls covering financial statement assertions
Assess design effectiveness of internal controls, including document walkthroughs for reliance by auditors
Perform and document internal control operating effectiveness testing
Evaluate individual and aggregate deficiencies and consult on remediation actions
Report results to process/control owners, management, and Audit Committee

Continiously Improve

We view SOX compliance as an opportunity to continuously improve business processes and performance rather than a mere exercise in compliance. Our consultants will help your organization achieve compliance in the most efficient and cost effective manner.

Rediness Assessments

Readiness assessments are used to determine how well prepared the organization is to implement a SOX 404 compliance program. It is designed to highlight gaps, and make recommendations, to help clients ensure implementation of a successful SOX 404 compliance program.

Tailored Solutions

InfosecMates’s SOAS services can be tailored to individual client needs through readiness assessments, through documentation and testing assistance and through sustainability assessments.

Documentation and Testing Assistance

Documentation and testing assistance is designed to help management support their assessment of their organization’s compliance with SOX 404 requirements.

Sustainability Assessments

Sustainability assessments are designed to help clients evaluate and improve on their initial SOX 404 compliance efforts.

InfosecMates’s SOAS services can help clients:

Prepare

prepare for an initial compliance program that takes advantage of the most recent guidance to create a cost effective approach to SOX 404 compliance that is suited to the organization.

Create

create clearer links between risks and management’s decisions and judgments about how those risks are managed through a company’s approach to ICFR.

Identify

identify and implement year-on-year improvements to the SOX 404 compliance to reduce costs and improve effectiveness of a client’s on-going SOX 404 compliance efforts.

Approach for SOX Compliance

We are on hand to help you meet the requirements of the Sarbanes-Oxley Act (SOX). In partnership with your organisation, we’ll determine your readiness for a compliance programme, review your areas of compliance and non-compliance, and help you optimise your approach to risk. We work closely with our experts team and our technology assurance team to support clients across three core areas: readiness, optimisation, and compliance.

Getting you ready for SOX

Our team undertakes readiness assessments of our clients to determine how prepared they are to implement a compliance programme. Our assessments seek to highlight any issues within an organisation that may prevent the establishment of a successful SOX 404 compliance programme. They then recommend specific improvements across SOX’s 11 titles.

Reviewing your SOX compliance

We undertake compliance reviews to determine whether a company is meeting the core requirements of the SOX Act. One of the aims is simply to highlight any areas of non-compliance. Another is to assess whether management has an adequate and suitably explained framework for evaluating the effectiveness of the company’s internal controls over financial reporting.

Optimizing SOX

Using a risk-based methodology, we will assess the controls you have in place to mitigate identified risks. This allows us to identify any control weaknesses that management should address. The benefits to clients of enhancing their internal financial control environment can be twofold. Firstly, our recommendations help to boost a company’s effectiveness in terms of compliance, and, secondly, they may also help them to reduce costs

The SOX Act applies to some companies that are subsidiaries of companies listed on the US stock exchange. Section 404 is one of the most important parts in terms of compliance. This is where the Act:places a requirement on companies to document a management assessment of their internal controls over financial reporting; and requires a company’s independent auditor to attest to the effectiveness of the company’s internal control over financial reporting in accordance with the standards set out by the Public Company Accounting Oversight Board (PCAOB).

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