TrustCC, Information Security Consulting & Compliance

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SOX 404 Compliance

After the major corporate and accounting scandals of 2002, required compliance with the Sarbanes-Oxley Act is of utmost importance for many organizations. New standards were published in 2007 to reduce the amount of testing required by organizations, allowing for a risk-based approach. However, the regulation maintains that company executives, specifically the CIO and CFO, are responsible for the accuracy of financial information and must attest to the effectiveness of their internal control structure. Without adequate and effective controls in place to mitigate fraud, these executives face the possibility heavy fines and extensive jail time if financial statement fraud is detected.

The TrustCC SOX 404 Compliance service begins with a risk assessment of the internal IT control structure to determine the organization’s key IT controls that could affect the accuracy of financial reporting. If the organization or external auditor has already determined the key IT controls, TrustCC will work with the organization and use existing test matrices to map TrustCC control testing appropriately. TrustCC will ensure all key IT controls related to SOX are tested on behalf of management. Control deficiency or effectiveness gaps will be identified for management to correct prior to an external auditor certification. Detailed recommendations, tailored to the size and complexity of the organization, will be given to aid management in the resolution of all identified issues.

Designed For:

• Organizations that want to evaluate their overall SOX 404 compliance in preparation for a regulatory examination.
• A management team that needs to evaluate their internal control procedures, reviewing the effectiveness in both their design and operation.

What We Typically Provide:

• IT Security and Vulnerability Testing: A series of procedures designed to identify vulnerability and demonstrate threats.
• IT Audit Procedures: Procedures designed to evaluate compliance with technical, physical and administrative control provisions (safeguards) that are addressed by your particular regulatory environment.
• Comparative Analysis: TrustCC will provide you with a general comparison to other organizations with similar regulatory requirements so you know how you may be "measured" when examined by your regulators.

How You Benefit:

• Management Assertion: You will know your IT internal controls critical for SOX compliance have been tested for effectiveness in both their design and operation and will be advised of deficiencies and gaps in your control procedures prior to external testing and certification.
  
• Big 4 Experience: You will receive the experience and insight from former Financial Accounting’s Big 4 consultants at a more reasonable fee and with a smaller firm’s care.
  
• Technical Experience: You will be confident that we are far more competent in our technical experience than many other firms.