Sarbanes-Oxley compliance

The provisions of the Sarbanes-Oxley of 2002 are now well established in the US. This Act has implications for almost everyone associated with US public companies, including related companies in Europe. The penalties for violation of sections of this Act include fines reaching into millions of dollars and imprisonment. In contrast to the ‘comply or explain’ approach of the Combined Code, Sarbanes-Oxley adopts a ‘comply or else’ line.

Sarbanes-Oxley (SOX) Section 404 and 302 requirements are now a required component of annual assurance plans by organisations that are Securities and Exchange Commission (SEC) registered.

Outside the US, experience of SOX planning and implementation is often in short supply, especially with restraints on management time and costs of implementation.

Working with us

We help organisations comply with SOX. Our team can take on as much or as little of your SOX project as you need. We provide complete compliance departments, interim consultancy or help with SOX testing.

We also can provide specialist technical assistance in areas such as IT. Sector-wise, we have a depth of experience in working with the insurance sector at all levels of project involvement as outlined below.

Our outsourcing and co-outsourcing services include:

Project management

We will take full control of the SOX project, from identifying controls and developing control matrices, to completing testing phases and remediation. Upon completion, we will provide a report of control effectiveness to your management.

Technical advisory

Our experts identify controls and develop control matrices for your team to take forward and complete the testing.

Manpower substitution

Our experienced team or individuals can assist in the completion of testing at various stages of the project, reporting directly to your project co-ordinator.

The advantages of working with us include:

  • experienced teams;
  • a range of support options;
  • synergies between your assurance services;
  • effective internal audits;
  • greater independence;
  • a dual outsourced operation providing internal audit reviews and SOX testing; and
  • freeing up your staff to concentrate on day-to-day business.