The Sarbanes-Oxley Act (SOX), which was enacted on July 2002, created a new beginning for public companies to demonstrate open, honest dealings with stakeholders, employees, and potential investors. To comply with the Sarbanes-Oxley Act, companies must ensure that corporate reporting is accurate and timely and that internal processes and controls are documented, verifiable and repeatable based on internal controls.

Sarbanes-Oxley compliance must be treated as a process and not an event. The processes put in place to comply, audit and test compliance efforts must be streamlined to allow ongoing efficient financial reporting, auditing and operation. Companies need objective help from someone that not only understands the operational drivers to comply, but also have a process and automation capability to enable rapid deployment of a SOX management system. SoftDevices provides a scaleable, cost effective set of managed services for Sarbanes-Oxley compliance that is unique because:
  • It is built upon an best-practice model of over 10,000 pre-defined process activities;
  • It has pre-defined standard reports for exposure identification and status reporting;
  • It has a employee-process biased methodology for documenting and improving internal controls;
  • It utilizes state-of-the-art managed services that can be implemented quickly and with lower cost;
  • It provides visibility into data that allows streamlining processes and achieving a measurable Return on Investment;
  • It allows a minimization of compliance management costs since it allows management to control the data and tools to automate many of the compliance reporting activities.
The Sarbanes-Oxley Act (SOX) raises the stakes for Chief Executive Officer (CEO) by requiring certification on the performance of systemic internal controls that contribute to the accuracy and integrity of financial reporting.

Ownership of controls existed to some extent at most companies, but Sarbanes-Oxley formalizes verification of effective controls operation The Entity Level controls should focus on the COSO elements of the overall control environment, risk assessment, information (data integrity) and communications (financial reporting tools/networks/interfaces) and monitoring (management reports/control reports). The process level involves Internal control considerations related to applications and access control that again assure financial reporting health within identified business processes in a verifiable manner.

Our expertise lies in leveraging your investments that are already made to form the basis for getting in compliance with Sections 302, 404 and 409.