Internal Audit Co-Sourcing
Co-sourcing services involve collaborating with your internal team to provide supplemental support and experience for tasks such as identifying controls, conducting SOX compliance testing, and addressing control weaknesses. We work with your internal audit departments to help with internal control testing to deliver a successful SOX compliance program. This arrangement allows for a seamless integration of external resources to enhance your team’s capabilities.
SOX 404(a) and SOX 404(b) Compliance
SOX 404(b) Compliance
To help accelerated and large accelerated filers with SOX 404(b) compliance, we offer a full suite of turn-key SOX services. These services include Internal Control over Financial Reporting (ICFR) planning, which involves identifying the processes and controls that are relevant to financial reporting. Risk assessments are conducted to identify potential risks that could affect financial reporting, and control testing is performed to evaluate the effectiveness of existing controls.
If control deficiencies are identified, remediation plans are developed to address the issues and strengthen the controls. Through our experienced team, we can assist with designing or enhancing your organization’s overall SOX program to create efficiencies by:
- Streamlining Processes and Reducing Redundancies
- Enhancing Risk Management Through ERM
- Improving Communication and Collaboration
- Increasing Transparency and Accountability
- Driving Continuous Improvement
- Creating Structure and Standardization
Smaller Reporting Companies and 404(a) Compliance
Smaller reporting companies (SRC) are subject to disclosure controls and procedures under Reg S-K Item 307 and annual assessment of internal controls over financial reporting (ICFR) under Reg S-K Item 308. We have a proven, cost-effective approach to support management’s annual ICFR assessment which includes the use of streamlined risk and internal control diagnostics and jump-start internal control libraries to quickly assess risks and evaluate control maturity to meet 404(a) disclosure requirements.
Accounting Advisory Services
We provide on-demand technical and specialized accounting to our clients, ranging from companies moving to GAAP accounting to multinational Fortune 500 clients. We offer solutions for complex accounting including:
IPO Readiness
Understanding the entity-wide changes anticipated for a private company contemplating entry into the public arena is not a task to be taken lightly. Among the changes are additional financial reporting and internal control requirements, financial statement disclosures, and corporate governance readiness.
We can help you with these transformational changes. We help evaluate current governance, risk, and compliance (GRC) capabilities, assist with maturing process and control documentation, identify controls, provide guidance and recommendations on gaps, and design a tailored and appropriate testing plan, to give you peace of mind prior to going public and a practical path forward for SOX compliance.
SOX Compliance for Private Companies
A Unique Focus for Private Companies
The implementation of risk management and internal controls is highly beneficial for private companies. It is crucial for companies to have reliable, precise, and transparent financial and operational data for making informed real-time decisions and reporting accurately.
Let us help you enhance efficiency and streamline the closing process, freeing up valuable resources. Through well-defined processes, we deliver value-added solutions focused on financial reporting, data and system integration, governance, budgeting and more.
Cherry Bekaert helps organizations drive forward-thinking solutions to ignite growth, mitigate risk, and meet compliance requirements while harnessing advanced technologies.
