Sarbanes-Oxley Compliance Services

LBMC has a team of SOX Compliance experts and a well-established SOX compliance process that helps companies establish or continue compliance with the SOX Act in an efficient and cost-effective manner. Our resources can be allocated among multiple clients thereby reducing costs and providing significant cost savings to you.

Companies that outsource the SOX compliance process generally meet the following profile:

• Company is in the process of entering the public market through an IPO or a SPAC and doesn’t have an established framework to manage SOX compliance nor the resources necessary to establish a well-rounded and compliant program.
• Public company has experienced a significant increase in costs to retain the talent that is needed to manage SOX Compliance and/or unable to leverage the expertise within the organization resulting in underutilization of talent.
• Public company is unable to attract the talent that is needed to manage SOX Compliance.

LBMC specializes in tailored SOX Compliance services, supporting companies through every phase of compliance with an approach that combines efficiency with deep expertise. Our services include:

Documentation and Assessment with the COSO Framework

We assist in documenting and assessing compliance, completing COSO Framework templates, and identifying control gaps. Our services extend to testing entity-level controls, ensuring governance standards meet compliance requirements.

Risk Assessment

Utilizing a top-down, risk-based approach, we identify key financial processes and systems for documentation and testing, focusing efforts on areas critical to financial accuracy and reliability.

Documentation of Significant Processes and Systems

Our team efficiently documents your significant processes and systems, minimizing the typical burdens of extensive interviews and detailed documentation, thus maintaining continuity and efficiency year after year.

Financial Reporting Risk and Internal Control Assessment

We delve into understanding critical processes, assessing inherent risks, and identifying key controls for mitigating risks. This phase includes reporting any control gaps for timely remediation.

Internal Control Testing and Reporting

After identifying key internal controls, we develop and execute testing plans to assess their effectiveness, coordinating closely with financial statement auditors to ensure alignment on testing protocols and outcomes.

Cybersecurity and IT Compliance

Our comprehensive team of IT and financial auditors employs a robust approach to enhancing SOX compliance, integrating best practices from COSO and COBIT frameworks. We focus on addressing IT-related risks and controls to ensure your financial reporting systems are not only secure but also fully compliant with evolving standards. By applying COSO’s broad guidelines for internal control alongside COBIT’s IT-specific recommendations, we ensure a holistic governance framework that supports the integrity and reliability of financial reporting, fortifying your organization against cybersecurity risks and compliance issues.

Remediation Management

Taking a risk-based approach, we help prioritize and address findings efficiently, ensuring compliance while maintaining operational effectiveness.

Continued Engagement and Familiarity

By engaging LBMC year after year, our familiarity with your systems grows, allowing us to offer insights and efficiencies that new teams simply cannot match. This continuity not only enhances SOX compliance but also strengthens our client relationships.

For more information on our comprehensive SOX Compliance services and to see how we can tailor our expertise to your needs, please visit our website or contact us directly.