February 19, 2021
CHALLENGE
A NASDAQ-listed real-estate development company, preparing to be compliant with the Sarbanes-Oxley Act, faced challenges getting their team up-to-speed on the legislation and making their internal processes compliant.
Zeevo Group provided the company’s management with needed additional resources and technical expertise to establish the SOX foundation in advance of their first attestation and the external auditors’ arrival.
APPROACH
- Designed the SOX program focused on the people, processes, and technology that a well-run SOX Controls and Compliance environment requires
- Optimized the use of highly skilled professionals toward higher-risk activities and prioritized delivery models to fill the resource gap and drive enhanced capabilities
- Standardized processes to change the way the organization approaches the SOX life cycle, with supporting automation, analytics, and continuous control-monitoring tools to drive insights and outcomes in the process
OUTCOME
Delivered the necessary SOX program and related project artifacts in collaboration with the internal audit team, including:
- Relevant assertions;
- Scoping memorandum, incorporating materiality considerations;
- Risk assessment based on qualitative and quantitative analysis, with documented entity level, business process-level, and information technology level risk and control matrices (RCMs);
- Segregation of duties;
- Inventory of end-user computing tools, incorporating spreadsheets;
- Service auditor report (SOC) analysis;
- Framework for deficiency analysis, designing sub-certifications, and documenting a testing strategy, including sample size guidance and roll-forward considerations
ZEEVO’S VALUE ADD
- Provided expertise in designing effective SOX controls grounded in strategic thinking, technical capability, and deep-seated SOX insights
- Leveraged extensive experience in conducting risk assessments to align the risks of the organization around internal controls over financial reporting and deliver the assertions and controls that ensure a streamlined approach
- Deployed Zeevo’s staffing, technology, and knowledge capabilities to close resource gaps and reduce the complexity of SOX controls and compliance, based on leading practice
- Facilitated the change management process by improving communication, clarifying roles and responsibilities, and articulating the compliance strategy, illustrating better outcomes for the organization at a reduced cost
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LET’S TALK
Joey Johnsen
Phone: +1 760 933 8607
jjohnsen@zeevogroup.com