SOX Compliancy

The Sarbanes–Oxley Act of 2002 is a list of standards that financial companies need to follow. Failure to comply with these standards can result in companies being removed from the “Securities and Exchange Commission” (SEC) and the “London Stock Exchange” (LSE) along with serious financial fines and potential imprisonment.

“Sarbanes–Oxley Section 404: Assessment of internal control” is an area that my skill set is specifically applied to.  SOX404 makes any companies management personally responsible for establishing and maintaining adequate internal controls over financial reporting.

I’ve worked on projects in banks to do SOX impact assessments, assessing current teams for compliancy and the impact any changes will have on these teams. Other activates include:

  • Evaluation and documentation of the design and  current operation process controls that are needed to become compliant
  • Evaluation of the current controls environment based on the output of the SOX audit
  • Assessment of the functionality of internal applications
  • Assessment of the IT controls in both the business and technical units.