SERVICES
Sarbanes-Oxley Compliance Consulting
overview:
If you have a company that’s gone public or will go public, the Sarbanes-Oxley Act affects you. Sarbanes-Oxley (SOX) became a law in July 2002 in response to the Enron scandal and other examples of unethical behavior in the business community.
When Section 404 compliance, companies must be able to disclose on a near real-time basis—up to 48 hours—any changes in their financial condition or operations.
Section 404 requires an Internal Control Report to be included in all annual financial reports. Created by a company’s auditor, the document must present management’s assertions about the design and operational effectiveness of internal controls at year end. Management must also evaluate the effectiveness of internal controls over financial reporting and disclosure controls on a quarterly basis.
- Change Management: Companies must provide visibility over changes in the IT environment and enable the ability to initiate, authorize, manage and implement all IT changes through a systematic change process.
- Backup: A process must be deployed to identify critical data and to duplicate, store and recover data as needed.
- Security: A process must be deployed to ensure the integrity of information and secure applications, databases, operating systems, and internal network access.
- Documentation: Companies must deliver thorough documentation to cover change management, back up and security policies and processes.
- Remediation: Companies must have solutions to fill gaps in change management, backup and security.
HiTech Solutions has conducted many Sarbanes-Oxley compliance consulting services for leading companies throughout United States. With HiTech’ s technical professionals, we can assist your compliance program in a variety of ways. We organize the compliance project and we customize consulting to help you meet upcoming Sarbanes-Oxley compliance deadlines.
OFFERINGS:
- Serving as a project management provider;
- Developing approach, action plans, timelines and deliverables;
- Assisting with identifying significant accounts, required assertions, control objectives, risk assessment and internal controls;
- Evaluating risk mitigation and internal control adequacy and recommend improvement plans;
- Implementing internal control methodology and software;
- Providing on-going monitoring of internal control framework and testing;
- Preparing periodic reports to management & audit committee.