Expertise in Financial Reporting, Accounting, & Internal Controls
Case Study - Sarbanes-Oxley
- Instituted our internally developed process which draws upon authoritative guidance tailored to smaller public companies;
- Utilized our database of over 200 common controls to identify existing controls and to provide new controls where there were deficiencies;
- Leveraged our prior experience in determining acceptable sample sizes to test only the minimum number of samples necessary to achieve compliance;
- Compiled a new accounting policies and procedures manual using existing policies contained in our knowledge database; and,
- Developed and executed a remediation plan.
Issue - A small public company was subject to its first Sarbanes-Oxley internal control evaluation and sought assistance from a consulting firm.
Actions -
Outcome - Given our specialty in internal controls evaluations for smaller reporting companies and our proprietary tools and databases, our bid was almost half that of any competing firm. We identified several deficiencies during the process and assisted the Company with remediation activities. The Company exited the project with no reporting deficiencies and the project was completed on time and on budget.
