Sarbanes-Oxley Act
The Sarbanes-Oxley Act of 2002 is a piece of legislation created for the purpose of protecting investors from accounting fraud, specifically those that are related to shares sold by publicly traded companies. The Sarbanes-Oxley Act is a deliberate attempt to mandate strict reforms with regards to how corporations made financial declarations. The law mandates increased vigilance with regards to disclosures related to the financial state of the company, particularly when it comes earnings and profitability. One of the most significant feature of the law concerns compliance when it comes to electronic records. Aside from data stored and collected through Microsoft Office tools or its equivalent, email messages are also considered as evidence in the course of an investigation. Thus, corporations must be able to produce email messages as well as pertinent electronic data if requested by investigators. Jubmo Systems & Solutions is experienced in helping businesses comply with the governing laws of the Sarbanes-Oxley Act (SOX). While many companies struggle with these complicated pieces of legislation, our team has the experience to expedite regulatory compliance, simplify the implementation and reduce the cost and complexity of compliance and ongoing maintenance. Jubmo Systems & Solutions Sarbanes-Oxley Act (SOX) methodologies have been expertly developed by the same people who lead and manage our engagements. Since the Sarbanes-Oxley Act (SOX) pieces of legislation were enacted, our team has developed, amended, and streamlined our methodologies to operate efficiently for clients of all industries and sizes. Jubmo Systems & Solutions is able to custom-build a valuable SOX solution for each client’s needs by adapting our methodologies to the company’s particular circumstances. Our Sarbanes-Oxley Act (SOX) SERVICES INCLUDE: All the above services belongs to different phases during the implementation. A. Design Jumbo System & Solutions initial phase of SOX compliance includes initial project planning, analysis of the existing control environment and streamlining and automating current business processes to achieve compliance. Jumbo System & Solutions covers SOX compliance that affects all departments within your organization including core accounting, human resources, payroll and finance. B. Analysis Jumbo System & Solutions works with process and control owners to evaluate current SOX practices, identify deficiencies and provide recommendations for remediation and process improvements. In the initial phases of design and planning, your dedicated SOX consultants will develop prioritized project plans, which include: C. Identification Our expert SOX consulting team will perform a discovery and analysis with regard to your current SOX infrastructure and associated business processes. We will work with key personnel in your organization who drive, manage, and perform the associated tasks and processes to identify: D. Testing and Reporting In addition to business process and control analysis, we will work with related processes to be evaluated including workflow design, enterprise reporting and data management. We evaluate existing data models and systems and work with key personnel to identify reporting and data warehousing requirements. After the completion of our full analysis, we provide recommendations for improving the reporting infrastructure and current business processes E. Remediation: Jumbo Systems and Solutions will guide remediation efforts to ensure all IT controls and procedures are effective for the year. Remediation tasks include: