Sarbanes-Oxley & Other Regulatory Compliance
Sarbanes-Oxley (SOX) places similar demands on companies that are very dissimilar. As a result, the onus is on a company's senior management and audit committee to determine the most effective and efficient approach to compliance. Pre-IPO companies have the opportunity to tie strategy to compliance from the outset and to leverage insight for improved governance from their SOX investment. They should also look beyond SOX compliance to ensure that a broad corporate governance framework is in place as they prepare for the next step in their trajectory. On the other hand, for organizations with a mature SOX compliance program, the emphasis should be on optimization of ongoing compliance efforts.
CohnReznick's Governance, Risk and Compliance Practice helps the senior management of hundreds of companies – from emerging technology firms to Fortune 100 giants—adopt a top-down, risk-based approach to SOX and other compliance obligations. We have worked with numerous clients with mature SOX compliance programs to rationalize key controls and ultimately reduce the number of key controls that need to be tested. This approach allows them to see compliance as a pathway to improved performance and smoother governance rather than as a mere cost. We reinforce coordination among the audit committee, internal and external auditors, general counsel, compliance officers, process owners, and key stakeholders, and continually look for ways to leverage regulatory guidance and pronouncements to streamline the Section 404 compliance process.
We also provide services to support management in areas such as technology and security audit and control, policy and procedure development, and financial and SEC reporting.