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  Audit                           BREAKING BORDERS FOR BETTER BUSINESS

iBORDERLESS Audit -- At iBORDERLESS, we understand how important is independent Audit is in establishing trust in the capital markets. iBORDERLESS's  Advisory professional provide advice and assistance to enable companies, intermediaries and public sector bodies to mitigate risk, improve performance and add values. iBORDERLESS provides clients a wide range of Risk Advisory Services that can help the client respond to immediate needs as well as put in place the strategies for the long term.

iBORDERLESS Audit - Sarbanes-Oxley Act 404 Compliance

Sarbanes-Oxley Act 404 Compliance

Sarbanes-Oxley Act of 2002 Section 404 (“Act”) is a major change to the public companies regulatory environment. To ensure that Enrons’ and Worldcoms’ are not repeated again, Objectives of Sarbanes-Oxley are defined to strengthen Integrity, Corporate Governance and Transparency and at the same providing enhanced penalties as deterrence. The Act imposes additional responsibilities on all corporate stakeholders in financial reporting.  

Implication of SOX 404 Act on management includes:

  • Management’s  sole responsibility to be in compliance with Section 404

  •  The US Securities and Exchange Commission final rule pursuant to Section 404 of the Sarbanes Oxley Act sets the effective date for compliance as June 15, 2004 for US companies, with equity of $75million or more and April 15, 2005 for Foreign Private Issuers and US small businesses.

  • Internal controls needs to be supported by sufficient documentation and necessary to support management’s assertions in their annual report and will be evidence to enable the Company’s auditors to perform its attestation. 

  • iBORDERLESS specializes in project based approach for providing resources in the SOX Implementation projects from end to end  risk analysis, documentation and testing of the controls, and help management in preparing a remediation to prepare for the annual 404 attestation of management's certification by the auditors.

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