Year 1of Sarbanes-Oxley was difficult and costly for most companies. As companies move into years 2 and beyond, there is significant pressure to reduce costs and realize value from this significant investment. Key to this vision is moving the Sarbanes-Oxley compliance effort from a project mentality to a process. We work with clients to help realize this vision by assisting with the development of programs that are repeatable, effective and reduce costs of compliance.
Who needs
program development services?
What is the process?
Set Goals and Objectives – In order to achieve this lofty goal, companies must first identify and prioritize goals and objectives for their Sarbanes-Oxley effort. These goals and objectives often include:
- Rationalizing controls identified as key
- Increasing reliance on effective entity-level controls as key controls
- Identifying ways to leverage or enhance automate controls
- Identifying ways to leverage or enhance monitoring controls
- Identifying ways to push control responsibility and certification to process owners – e.g., quarterly certifications and self assessments
- Ensuring key controls are well designed into new systems
- Integrating Section 302 and 404 certification efforts
- Utilizing technology to automate the Sarbanes-Oxley program
Define Program and Establish an Implementation Approach – Once goals and objectives are established, we help clients envision and define their Sarbanes-Oxley program. This includes:
- Establishing an organization structure, roles and responsibilities
- Defining processes, milestones, and reporting
- Determining the role of information technology
- Identifying training needs
- Establishing an implementation approach and plan
Implement Sarbanes-Oxley Program – During this phase, we can assist clients with the management of the implementation effort. This may also include performing some of the tasks within the implementation plan.
Evaluate Success – It is important to be able to measure and report on the achievement of identified goals and objectives. This information helps management to evaluate its return on investment and garner support.
Why should I engage Brown
Smith Wallace?
Our professionals have strong backgrounds in helping organizations move their Sarbanes-Oxley projects to repeatable and cost-effective processes. The Brown Smith Wallace advantage includes:
- A proven approach to realizing value in your Sarbanes-Oxley program
- Exposure to many best practices through the numerous clients we serve
- A successful track record of managing projects within budget and helping organizations gain control
- Significant Sarbanes-Oxley, internal control and industry knowledge and experience
- A commitment to communication and knowledge transfer
- National and international reach
- A high caliber of professionals at competitive fees
What else should I consider?
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