Sarbanes Oxley (SOX and J-SOX)

The Sarbanes-Oxley regulation introduced in 2002 (USA) and 2006 (Japan), now fully implemented in most companies under its scrutiny, brings with it tough new rules alongside increased accountability for top company executives. This includes developing, monitoring and testing controls over financial reporting at both the Entity level and the Process level. The above is followed by corporate disclosure, compliance oversight, company training and reporting the findings in the company’s annual report to shareholders.

At Hardy & Company we have extensive experience and expertise in delivering end to end J-SOX implementation. This includes developing internal controls and process documentation from scratch to ensuring all compliance requirements are met. We aim to assist your business in meeting the compliance requirements in the most effective and efficient way. Our service extends from project planning and carrying out the ground work for the entire implementation or supporting your business managers in its implementation. Here are just a few of the ways we can help you get started:

  • Preparing a comprehensive implementation plan (flexible to your business and staff) and liaison with your parent company
  • Technical support including scoping and documentation of all in-scope business processes with process owners
  • Change Management
  • Carrying out the Walk-through tests
  • Carrying out the Operational tests
  • Assisting the business in completion of its Entity level questionnaires (i.e. both Company level and Financial reporting
    questionnaires)
  • Assisting the business in completion of its SOX IT compliance
  • Carrying out Roll-forward audits (year-end extended testing)
  • Liaison with your external auditors
  • Training and training materials
  • Process improvement

Besides this we ensure our review of your business processes leads to effective recommendations that can often result in identifying potential problem areas and opportunities to achieve the necessary compliance requirements in the best manner possible. We discuss the problems and opportunities with you and help you implement any agreed solutions.

Though business owners traditionally regard the compliance activities as a cost centre - a necessary evil that adds no value to the business - we strive to transform it into a profit centre.