In today’s stringent regulatory environment, companies must have risk and compliance under manageable control, to make them quantifiable, controlled and effectively managed in all aspects of the business. Whether your organisation falls under the umbrella of SOX, HIPAA, GLBA, or any regulatory jurisdiction, you need to face demands for compliance with a strategy that is well-integrated with your organisation’s risk management strategy.
The Sarbanes-Oxley Act, in particular Section 404, passed in response to the collapse of Enron and other large corporate failures, is one of the most significant challenges facing many companies today. Whilst many are increasingly committed to ensuring that they comply with regulations, this is often considered against a backdrop of cost cutting. Many management teams are simply not fully aware of the real risks to themselves or their auditors.
OUR SERVICES IN THE AREA OF REGULATORY COMPLIANCE INCLUDE:
- General Compliance Advice.
- Compilation of Compliance Manuals and Associated Documentation.
- Compliance Advise on the Implications of Strategic Developments.
- Advise on Remedial Action following Regulatory Breaches.
- Provide an integrated IT compliance strategy.
- Regular Business and Regulatory Risk Assessment.
- Provide support and guidance in process documentation and in selecting control-testing strategies.
- Assist with or perform controls testing.
- Identify risks which have either no controls in place or the controls are ineffective or inefficient.
- Provide support and guidance on SOX strategy and SOX team structure.
- Assist management to identify risks within processes.
Businesses are struggling to achieve a balance between cost and compliance, and management does not always fully appreciate the implications for them or for their external auditors. Implementing Section 404 of the Sarbanes-Oxley Act can be a dauntingly complex project. Most significant is the amount of management resources that are being absorbed by the projects.
We offer an independent service, which extends beyond compliance. Our experienced team has worked on many Sarbanes-Oxley assignments, to our clients, often project managing these jobs.
Our solutions and expert opinions are usually designed to answer pressing questions such as:
- How do I know if I am meeting compliance requirements?
- How do we identify and measure specific risks?
- How do I integrate my compliance and risk management efforts to avoid unnecessary overlap or contradiction?
- How effective are our risk and compliance programs?
Our services will lead you through all the critical steps of a successful compliance and risk program, and give you valuable insight into your IT strategy. We can work with you in any or all of the areas. We are then able to suggest improvements to your systems and the controls within them. We have also found from past experience that this process enables us to add further value to your business by reviewing ways in which you conduct business and by highlighting potential errors and inefficiencies, which need addressing.
In today’s stringent regulatory environment, companies must have risk and compliance under manageable control, to make them quantifiable, controlled and effectively managed in all aspects of the businesses.
‘An effective data management program can add substantial value to a business.’