Sarbanes-Oxley (SOX) compliance

The provisions of the Sarbanes-Oxley Act 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 even imprisonment. In contrast to the ‘comply or explain’ approach of the Combined Code, Sarbanes-Oxley adopts a stricter ‘comply or else’ line.

The requirements of SOX sections 302 and 404 are now a required component of annual assurance plans by organisations that are registered with the Securities and Exchange Commission (SEC).

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

Working with us

To help your organisation to ensure SOX compliance, our team can take on as much or as little of your SOX project as needed. We provide complete compliance departments, interim consultancy or help with SOX testing.

We also can provide specialist technical assistance in areas such as IT. We have a depth of experience in working with various sectors, at all levels of project involvement.

Our outsourcing and co-outsourcing services include:

  • Overall project management

Mazars will take full control of the SOX project, from identifying controls and developing control matrices, to undertaking the testing and remediation processes. Upon completion, we will provide a report of control effectiveness on management’s behalf.

  • Technical advisory

Our experts will identify controls and develop control and test matrices for your team to take forward.

  • 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 coordinator.

Advantages of working with us include:

  • Use of an experienced team.
  • A range of support options.
  • A trusted assurance provider.
  • Greater synergies between your assurance services.
  • Comfort over the independence of test results and related conclusions.
  • The provision of a dual-purpose outsource solution, providing both internal audit and SOX services.
  • Releasing your existing staff to concentrate on day-to-day operations.

Please contact Sam if you require any further information on the SOX services we provide.

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