Sarbanes-Oxley Solutions

We work with our clients to provide a full suite of Sarbanes-Oxley solutions that fit their needs from one time projects to ongoing co-sourcing and outsourcing engagements of operating effectiveness testing.  Our methodology and culture stresses building lasting client relationships by providing quality service that adds value.  Our solutions are grouped in three areas:

  • Public Company Readiness and Program Development & Implementation 
  • Risk and Control Assessment and Testing 
  • Controls Optimization
     

Detailed Approach to Sarbanes-Oxley Compliance

Our approach is aligned with the Security Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) standards and guidance and the COSO framework. We assist management to navigate the challenges of Sarbanes-Oxley compliance.  We partner with our clients to understand their needs to create a cost-effective approach.  Project management and proactive communication are stressed to ensure effective and efficient engagements, including:

  • Ensure the right experienced audit resources are used
  • Provide best practice guidance 
  • Regular status meetings
  • Continuous communication/feedback
  • Coordination with management and external audit
  • Using client’s system access, when possible
  • Using an user-friendly cloud based request list system
     

We apply a COSO risk-based, top-down approach that drives both efficiency and effectiveness into Sarbanes-Oxley programs.  This approach ensures that organizations have identified the significant risks to material misstatement and has put in place the proper key processes and controls to adequately mitigate risk.

Sarbanes-Oxley Resources

  • Our Thoughts On Articles 

Get the latest insights and analysis from our team of experts on SOX news and updates.
 

About Schneider Downs SOX Team

Schneider Downs’ dedicated IT, financial, and operational audit professionals have Sarbanes-Oxley experience working with a wide variety of industries of all sizes, including domestically and internationally.  We have proven experience with the all the commonly used processes, applications, platforms, and databases, including HR, Accounts Payable, Accounts Receivable, Inventory, SAP, Oracle ERP, JDE, Windows, Linux, Unix, AS/400, Oracle databases, SQL Server, etc.  Our staff are certified and up-to-date on Sarbanes-Oxley guidance.

If you are ready to get started or need additional information please contact us.

 

 

Whistle

Sarbanes-Oxley
Compliance Audits

The Sarbanes-Oxley Act of 2002 (SOX) is legislation passed by the U.S. Congress to protect shareholders from accounting errors and fraudulent practices. SOX include the following key Sections:

  • Section 302 - Corporate Responsibility for Financial Reports
  • Section303 - Improper influence on conduct of audits
  • Section 401 - Disclosures in Periodic Reports
  • Section 404 - Management Assessment of Internal Controls
  • Section 409- Real Time Issuer Disclosures
  • Section 802- Criminal penalties for Altering Documents
  • Section 906 - Criminal penalties for CEO/CFO financial statement certification
  • Section 1107 - Criminal penalties for retaliation against whistleblowers

Sarbanes-Oxley impacts public companies, privately held companies raising capital in the public sector, and companies in the process of going public. Section 404 of the Sarbanes-Oxley Act is particularly challenging to companies due to its many requirements with respect to internal controls over financial reporting.

Schneider Downs specializes in the implementation and ongoing support of SOX programs that align with the Security Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) standards and guidance. We apply a risk-based, top-down approach that drives both efficiency and effectiveness into the program.

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Detailed Approach to SOX Compliance

Schneider Downs’ dedicated IT, financial, and operational audit professionals have experience working with a wide variety of industries of all sizes. We partner with you to assist your company in implementing and maintaining a comprehensive SOX program.

Our SOX approach includes evaluating the design and testing the operating effectiveness of controls.

During our review of the design of the controls, we will take a top-down, risk-based approach to ensure that your organization has identified the significant risks to material misstatement and has put in place the proper key controls to adequately mitigate these risks. We will work collaboratively with management to ensure that the key SOX controls identified are adequate for this objective. Once we are certain that we have identified the adequate key controls, we will then work with management and perform walkthroughs of these key controls. We will document tests of one and work to understand the processes that management has put in place to mitigate the noted risks.

After we have gained sufficient understanding of the design of the key SOX controls, we will work with management to plan and execute our tests of operating effectiveness for the key SOX controls. Our testing will be designed to be comprehensive in nature, and we will select sample sizes as appropriate based on the frequency of the controls in place. We will work collaboratively with management to obtain the evidence necessary to form our opinions and conclusions surrounding the operating effectiveness of the key controls.

Our testing will conclude with a report that we will generate for management that outlines the results of our testing the design and operating effectiveness, along with recommendations to improve the control structure.

View our additional IT Audit and Compliance services and capabilities

Cybersecurity Resources

Resource Library

Explore our cybersecurity resource library, including case studies, whitepapers, best practices and expert thought leadership.

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Our Thoughts On

Schneider Downs’ experts deliver analysis about the cybersecurity trends that impact our clients and organizations of all types and sizes.

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contact us

Map of Pittsburgh Office
Pittsburgh

One PPG Place, Suite 1700
Pittsburgh, PA 15222

cybersecurity@schneiderdowns.com
p: 412.261.3644     f: 412.261.4876

Map of Columbus Office
Columbus

65 East State Street, Suite 2000
Columbus, OH 43215

cybersecurity@schneiderdowns.com
p: 614.621.4060     f: 614.621.4062

Map of Columbus Office
Washington, D.C.

1660 International Drive
McLean, VA 22102