Sarbanes-Oxley National Service Team

Understanding Sarbanes-Oxley 404 compliance issues

The Sarbanes-Oxley Act of 2002 is one of the most important acts of legislation affecting corporate governance, financial reporting and accounting practices.

The regulations required by Sarbanes-Oxley Section 404 have caused the need for a substantial increase in the level of knowledge and expertise required for CPAs and financial professionals. These professionals must thoroughly understand the provisions of this act and the new requirements in the areas of internal control and fraud.

Many companies suffer from a lack of guidance, as well as a lack of resources, to bring their organizations into compliance with these new regulations. CPAmerica member firms work in cooperation with a Sarbanes-Oxley National Service Team, which is comprised of professionals who provide you with the meaningful and timely information your company needs to meet the standards of independence.

CPAmerica’s specialized team of experts can assist by providing:

  • Guidance and support, as necessary and requested
  • Proven methodology
  • Documentation tools and assistance
  • Review of the project team’s work product
  • Remediation guidance and solutions
  • Current knowledge on Section 404 developments
  • Interface with external auditor

A solution to your compliance requirements

The CPAmerica Sarbanes-Oxley National Service Team can offer a focused, comprehensive and cost-effective methodology to help your company meet the requirements of Section 404. This methodology is highly scalable and can support your compliance efforts at all levels, ranging from project management and consultation to complete outsourcing. The team’s methodology is robust, yet streamlined, which allows for greater efficiency while addressing all areas impacted by compliance requirements.

Sarbanes-Oxley National Service Team Action Steps

Phase I

  • Organization and planning
  • Project scope development
  • Enterprise control and framework analysis (COSO)
  • Control risk identification

Phase II

  • Document existing internal controls
  • Assess design of existing internal controls
  • Remediate deficiencies in internal control design

Phase III

  • Test operating effectiveness of internal controls
  • Remediate deficiencies in internal control operating effectiveness

Phase IV

  • Company reporting
  • External auditor signoff

Understanding the complexities of the issues posed by Sarbanes-Oxley is a difficult task. A CPAmerica member firm, in conjunction with the experts on the Sarbanes-Oxley National Service Team, can guide you through.

The following specialists are available to assist you with your compliance issues:

If you have a question for a Sarbanes-Oxley National Service Team member, send an e-mail to info@cpamerica.org and your request will be processed.