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Sarbanes – Oxley (SOX) Compliance
The Sarbanes – Oxley (SOX) Compliance Practice was developed to help organizations comply with requirements of the Sarbanes – Oxley Act, 2002.
Satyam’s SOX Practice enables development of a comprehensive compliance roadmap that helps businesses get started and going as there just isn’t a ‘one size fits all’ kind of SOX solution.
Value Enablers
Our SOX compliance solution is based on the COSO and COBIT Frameworks. The COSO framework describes a unified approach for evaluation of the internal control systems that the management has designed to provide reasonable assurance of achieving the fundamental business objectives. COBIT framework has been used to identify relevant IT objectives that affect the financial reporting process.
Our SOX solution works on a continuous improvement model that is ideal to bring in iterative risk management and compliance.
We have developed a sophisticated solution framework from which are derived specific solutions to address all critical non- compliance issues.
Our approach is thorough and is intended to best help corporations to comply with the act while simultaneously adopting best corporate governance standards
We are uniquely positioned to deliver a complete SOX compliance solution and the key enablers are:
- A team of expert professionals who have come together to design and deliver the solution
- Experience of successfully implementing SOX compliance at Fortune 500 corporations
- Alliances and rich hands-on knowledge of the best in class technologies in individual compliance areas allowing us to cater to specific needs
- Well defined engagement model with measurable milestones, ensuring timely tracking mechanisms
Service Offerings
We offer solutions for clients who
- Are in the process of preparing for their first compliance
- Have completed their first compliance exercise and are looking for a solution to ensure a continuous compliance with improvements in business processes
- Want to ensure compliance taking into consideration the process improvement benefits and the future plans of the company
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| End to End SOX Compliance |
Understand Business Functions, Defining Control Objectives by Processes, Threat Assessment, Process and Controls Documentation and Evaluation, Testing Control Effectiveness, Gap Analysis, Remediate Controls, Continuous Monitoring |
| Design and Implementation of SOX Compliant Systems |
Review of ERP Implementation, Assist in implementation of Controls within IT Systems |
| Process Review for SOX Compliance |
Understanding Business Operations, Review of Existing Control Objectives and Activities based on COSO framework. Review of Process Controls for Operating Effectiveness. Remediate Ineffective controls |
| IT Review for SOX Compliance |
Understanding IT Operations, Review of existing Control Objectives and Activities based on CoBIT framework. Review of IT Applications and Infrastructure, Remediate Ineffective Controls |
| Testing |
Process and Control Audit Program Development, Development of Test Scripts, Conducting Tests and Evaluate Results |
| SOX Documentation |
Evaluate Existing Processes, As-Is Process Documentation, To-Be Process Documentation along with Workflows, Narratives, Flowcharts, Walkthroughs and Procedural write-ups |
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Case Illustration
- A large Global Development Bank, USA
- A large Investment Bank, USA
- A large Financial Institution, USA
- Fortune 100 Gaming Company, USA
- A large Oil & Gas Multinational, USA
- A large Insurance Company, USA
- A large Telecom Company, Australia
- A large Healthcare Company, USA
- A large Automobile Company, India
- A large Food Processing Company, USA
- A Semiconductor Manufacturing Company, Japan
- A Large Insurance Company, Japan
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