SOX & Internal Audit
Through an array of SOX and Internal Audit services, SOAProjects can implement and maintain a focused, effective, and efficient compliance program. SOAProjects attracts and retains quality Internal Audit, SOX Compliance and IT professionals.
SOAProjects has been a thought leader in SOX since 2004 and has assisted over 200 clients in implementing and maintaining SOX Compliance with a full range of services from outsourcing to co-sourcing SOX compliance services and business process optimization.
We offer a creative and flexible approach by providing tailored internal audit solutions to fit your needs. SOAProjects internal audit solution combines industry expertise, subject matter experts in operational and compliance areas, and state-of-the-art methodologies to address your needs.
SOX Compliance
Internal Audit
SOX
Compliance
SOAProjects approaches SOX Compliance projects using our overall RIM (“Risk Assessment – Process Improvement – Continuous Monitoring”) methodology. We designed our approach to address an organization’s evolving risk profile and its changing environment by updating the risk assessment on an ongoing basis to ensure changes in the business are reflected in our compliance effort. We have developed and implemented a phased approach for SOX Implementation for Pre-IPO and Newly Public Companies taking into account an organization’s risk profile.
SOAProjects uses a consistent methodology and templates on SOX engagements. Our planning and execution methodology is closely aligned with that of the Big4 accounting firms and incorporates the guidance provided under PCAOB Auditing Standards and Staff Audit Practice Alerts. Our IT Compliance & Advisory team works with clients to assess technology risks and address, manage and mitigate the impact of those risks to the business, enabling the organization to leverage technology.
Some of the SOX-related services which our team has extensive experience in providing to our clients in conjunction with our SOX projects include:
Project management is the cornerstone of our success. SOAProjects will establish an effective communication protocol to allow our team to track the progress of the engagement. At SOAProjects, we believe success of project management is a byproduct of managing the engagement proactively and continuously throughout the process.
Internal
Audit
The dynamics of today’s global business climate are driving organizations to seek new ways to improve their competitive advantage. Our consultants can assist you in achieving your objectives by bringing a cost-effective, strategic, disciplined approach to your risk management process. The results of our internal audit compliance solution will be seen immediately in the benefits to your internal audit process and beyond. SOAProjects internal audit services include:
Internal Audit Co-Sourcing >
Internal Audit Full Outsourcing >
Internal Audit Quality Assurance Review >
Audit Committee Advisory >
Fraud Reviews >
Third Party Risk Management >
Governance, Risk, and Compliance (GRC) >
We facilitate the alignment of internal audit resources to stakeholder expectations and the delivery of an enterprise-wide risk approach. We consider the risk profile and control maturity to determine the value driven internal audit services, enabling us to offer the right resources, at the right time, in the right place that will transform an existing internal audit function into a proactive and value-added function.
Establishing an Internal Audit Function
Our team has extensive experience in setting up an internal audit function for an organization.
- Setting up the Internal Audit function
- Developing annual Internal Audit plan
- Execution of IA plan and performing Internal Audit
- Reporting
Internal Audit Co-Sourcing
We can enhance your existing internal audit capabilities through co-sourcing arrangements by complementing in-house functions with specialist skills or by providing project-based advisory services. We can transform an existing internal audit program into a proactive, value-added function.
SOAProjects has helped organizations benefit from a risk-based strategy by helping them transform their internal audit function from a traditional, transaction-based role into one that can deliver strategic business information. Our consultants have specific experience across a wide range of industries and extensive internal auditing knowledge to assist management in identifying critical areas of risk for almost any type of business with an approach that is highly focused and strategically driven.
Internal Audit Full Outsourcing
Our internal audit services help management improve operations in a cost-effective and value-added manner by providing a fully outsourced internal audit solution. Our approach goes beyond testing transactions and balances to providing insights that help you better understand your business. SOAProjects not only provide efficient and timely services but personalized guidance to help assure a sound financial future. SOAProjects recognizes that clients expect more than just a tradition internal audit services. Our process uses knowledge and skill sets to provide value-added suggestions to our clients that will help them achieve financial and operational efficiencies.
Internal Audit Quality Assurance Review
We assist in providing an assessment of the internal audit function which can help management prioritize audit projects and assess the current resource and skill levels necessary to perform the audit function. Our approach is customized to help companies create efficiencies in their existing internal audit department.
Audit Committee Advisory
We provide independent advisory services to Audit Committees on technical accounting issues, corporate governance, structure and effectiveness of internal audit-related activities, risk assessment evaluation and advise on other business risks.
Fraud Reviews
We address concerns such as reducing business risk to an acceptable level, improving the value of your business and addressing the changing environment within your industry. We can assist you in establishing an Anti-Fraud Program and ensuring that it is appropriately implemented and tested throughout the year.
IT Audit Services
We have specialized qualified IT professionals to assist in assessing technology risks and controls to align the internal audit function with the Company’s business and IT strategies.
Specialized Internal Audit Projects
We provide ongoing assistance for your internal staff and systems for specialized internal audit projects. We use the COSO Framework for our ERM engagements and design our workflows to address the elements of that framework. Aligned with ERM, companies are focusing on two other risk management areas – TPRM and GRC.
Third Party Risk Management
TPRM focuses on establishing a vendor risk rating criteria and mapping to sourcing strategy, enabling vendor onboarding, classification and off-boarding, and implementing automation solutions and vendor data lakes.
Governance, Risk, and Compliance (GRC)
GRC addresses an organization’s assessment approach through control, definition, enforcement, and monitoring to coordinate and integrate these initiatives.
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Contact us to learn more about SOAProjects' services.