Sarbanes Oxley (SOX)

Finding the balance between compliance and cost

Keeping SOX compliance light and efficient

With the release of auditing standard 5 (AS5) and the introduction of the risk based approach, the finance leadership of accelerated publicly traded companies have stabilized the burden of SOX compliance.

Elevate understands the challenges of middle market companies / accelerated filers face when it comes to compliance costs. We work with your Accounting, Finance and Technology departments to keep SOX compliance efficient and effective.

Specific to IT, leveraging IT best practices (e.g. COBIT framework specific control objectives), our IT auditors apply a common-sense approach when reviewing your IT general and IT application controls.

On the accounting / business process side we ensure we are applying the latest and most relevant guidance to your business needs.

Whether an accelerated filer or you are in your first year of implementation, our compliance professionals work closely with your external audit firm and/or internal audit department to ensure the most cost-effective and pragmatic solutions are met for your compliance needs. Following the Securities and Exchange’s (SEC) Guidance for Management, we help you rationalize your critical risks and key controls; develop supporting evidence for your controls design and operating effectiveness; and drive accountability for compliance throughout the organization.

Our specific services include:

  • Perform Audit Committee governance control testing.

  • Perform the risk assessment, materiality calculation and define location / business entity scope.

  • Provided internal controls over financial reporting (ICFR) framework.
  • Identify / document key controls and link such control back to the accounting financial assertions provided by the American Institute of Certified Public Accountants (AICPA).
  • Perform financial controls as well as IT application and IT general controls testing.
  • Provide a comprehensive summary of findings with management responses.
  • Provide quarterly updates to the audit committee.