Tag Archives: SOX

Why Is an Effective Internal Control System Crucial for Success?

According to the Institute of Internal Auditors (IIA), an effective internal control system helps ensure that our organizational processes are functioning properly, that our financial information is reliable, and that we’re in compliance with applicable regulations. Businesses primarily implement an internal control system to protect themselves from internal fraud and abuse, while many do so with regulatory or standards compliance in mind. Continue reading Why Is an Effective Internal Control System Crucial for Success?

How to Reduce SOX Accounting Compliance Costs

If you qualify as a non-accelerated filer (i.e., your company’s public float is under $75 million), you’ll have to start complying with Section 404(b) of SOX, which requires company management and independent auditors to sign off on, or attest to, the effectiveness of your risk control framework or accounting policies and procedures for internal control. Are your processes protecting you from the risk of material misstatements (RMM)? Do you know how to control and reduce SOX compliance costs? Continue reading How to Reduce SOX Accounting Compliance Costs

What Is SOX Corporate Governance?

In the past, we experienced an avalanche in our financial system. Major financial institutions failed to the shock of investors and depositors, and there was such a high level of uncertainty in the financial system that availability of credit had been shut off even to the most highly rated borrowers. What does SOX Corporate Governance have to do with this? Continue reading What Is SOX Corporate Governance?