 |
Failure to comply with the Regulations will result in forced public disclosures, which may lower shareholder confidence and tarnish your company’s brand. Compliance is therefore not only a matter of Law, but critical to protection of your company’s brand and value in the marketplace.
The Sarbanes-Oxley Act of 2002 is the most sweeping legislation affecting corporate governance, disclosure and financial accounting in over a generation. It applies to all US-quoted companies. Specifically, Sections 302 and 404 require CEOs, CFOs, independent auditors and committees to:
 Certify the accuracy of financial statements and
disclosures
State if there have been significant changes in internal controls and disclose all deficiencies in their design or operation
Provide auditor’s attestation to management’s assessment of internal controls and procedures for financial reporting
Report that controls and procedures for financial reporting and disclosure have been validated within the past 90 days
In practice this means all your internal controls and procedures related to financial disclosure will need to be fully documented, certified and auditable. For most companies, ensuring initial compliance will require significant time and resources. Section 302 removes any "I didn't know" defence for CEOs and CFOs. Effectively you will have accepted responsibility for internal controls over your financial processes and personally evaluated the effectiveness of these controls. Section 404 is designed to bolster public trust, requiring public companies to attest to the effectiveness of their internal control over financial reporting.
Five reasons why you should appoint Lambda Projects as your SOX consultant:
1. Your Sarbanes Oxley programme will be implemented through a structured 4 stage methodology developed over 3 years of dedicated SOX experience, helping you achieve compliance of your systems once this is complete.
Click here to see details of the 4 stage methodology
2. You will have access to our dedicated support team who can quickly respond to unexpected issues arising in your compliance programme, which means less downtime and therefore less cost to you.
3. Your Lambda Projects team have developed and tested templates which they will use to document your new compliant system and you will receive these as your process manuals when we have finished your work.
4. By appointing Lambda Projects as your Sarbanes Oxley consultant, you will be tapping into an array of 7 proven main business solutions, plus up to 25 applications of these, to resolve your issues identified as requiring remediation, giving you confidence that you will achieve compliance.
5. Your accounts staff are busy people and need to keep working whilst weaknesses are fixed. The time they need to spend with your Sarbanes Oxley consultants will be clearly identified and planned with them, meaning that you can be sure the work of their departments need not be disrupted.
Click here to see more benefits to your organisation
|
|
|
|
| Crown Castle |
| Richards Butler Solicitors |
| Serco |
| Siemens Communications |
| South West Trains |
| Jeakins Weir |
| English Heritage |
| Delphi Diesel Systems |
| Space4 |
| Balfour Beatty Construction |
| Maritime Services Corporation |
| A & P Shipyards |
| Thales |
| Easynet |
|
