Sarbanes Oxley (Sox) is an Act introduced in 2002 and has changed the financial reporting landscape dramatically.  Companies were rushing out to comply with the requirements of Section 404, and in this rush, some companies, although complying with the regulations, did not reap cost benefits. Sox is not just a burden, but a means for companies to enjoy long term benefits, if implemented effectively.

 

Section 404 -- Management Assessment of Internal Controls (The Sarbanes Oxley Act 2002)
The section states that it is the responsibility of  management for establishing and maintaining an adequate internal control structure and procedures for financial reporting.  It also states that  as of the end of the most recent fiscal year, the Management must make an assessment of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

 

 ERM Consulting's Sox Compliance Solutions

ERM Consulting can help you in all aspects of Sox compliance; Specifically, ERM will address the following as part of Sox compliance
 

	Documentation to support Sox efforts - Process mapping with detailed narratives
	IT controls
	Risk assessment and a control matrix
	Control testing
	Gap remediation
	Assistance with quarterly management certification