The Sarbanes-Oxley Act of 2002 (SoX), specifically Section 404, has significantly impacted many businesses. Executives must ensure compliance with complicated rules while delivering shareholder value; audit committees and board members are charged with guiding and monitoring management. Management is stretched for capacity, funding and expertise related to internal controls and SoX compliance. Shareholders and other stakeholders are placing reliance and trust in assertions regarding the effectiveness of internal controls over financial reporting.

SoX has presented opportunities, as well as challenges, for public, private and not-for-profit entities. Private and not-for-profit entities are experiencing both scope creep and benefits from these rules intended for the public sector. The major challenge companies face is complying with SoX requirements while maintaining the competitive advantage of an efficient organization. Some financial institutions, executive officers, regulators and other constituents of private and not-for-profit organizations are lobbying for the transparency and accountability of SoX to extend into the private sector. Others believe that improving internal controls can lead to a more effective set of processes and, ultimately, a stronger enterprise. No matter the stimulus, opportunities exist to leverage some of the best practices generated from the SoX efforts into the public sector.

CRI professionals possess extensive experience and insight in guiding companies from understanding the requirements to maximizing their return on investment for compliance. We have developed an approach that can assist your organization with scoping, training, planning specific projects and remediation, out-sourcing management's testing efforts or evaluating overall efforts. Together, we can propel your organization from compliance to competitive advantage.