When you hear the phrase “internal control system required by Sarbanes-Oxley (SOX) Section 404,” do you automatically think of policies and procedures?  Simply having accounting policies and procedures does not indicate an internal control system.  Well-written accounting procedures that document well-defined accounting processes, however, are an important component of the internal control system you are building. 

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It has been more than five years since most provisions of the Sarbanes-Oxley Act of 2002 took effect (in mid- 2003). Many publicly traded companies, however, still seem to struggle with developing a confident understanding of compliance.

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We are experiencing an avalanche in our financial system. Major financial institutions are failing to the shock of investors and depositors, and there is such a high level of uncertainty in the financial system that availability of credit has been shut off even to the most highly rated borrowers.

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The “finish line” — the $1,000,000 “prize”, cash savings for your business – is within sight.  In our articles on Inventory and Accounts Receivable, we found $250,000 worth of savings in each functional area.  We found another $250K could be saved in Sales and Marketing.  Accounts Payable is

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Each year, businesses write-off six percent of revenue to waste, fraud and abuse. But why would managers throw all that hard-earned money away when there is an easy reliable way to eliminate waste, fraud and abuse

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