Business & Finance Finance

Cost Effective Sarbanes-oxley 404 Certification

Conducting business in today's market can be fraught with frustration and confusion due to the number of complex regulatory demands. In particular, IT, Finance, and Management are tasked with the time consuming requirements of Sarbanes-Oxley 404. Sarbanes-Oxley is laden with rules related to policies, procedures and effective controls. In order to be compliant, it is necessary to hire an outside accounting firm to certify that a corporation is in compliance. When such an accounting firm begins their certification process from scratch, it can be a time consuming and expensive process. If however, the accounting firm has a significant head start; their costs can be significantly reduced.

The consulting firm, Taurus Compliance Consulting, LCC (Taurus), offers a team of highly trained and experienced professionals who can perform all the necessary IT, Finance and Policy & Procedure controls. While an accounting firm still needs to prepare a certification, the amount of billable hours incurred can be substantially less. Since the billable rate for the accounting firm is usually at least 25% higher than the rates charged by firms such as Taurus, there can be significant cost savings. In addition, the Taurus staff includes consultants who are CPA's, lawyers and professionals with a combined total of more than 100 years of experience.

Taurus Compliance Consulting, LLC follows a standard audit practice methodology, which includes:

Walk-Through Conduct management and process owner interviews to identify existing business processes and controls.

Documentation Create process narratives and workflows from walk-through discoveries.

Design Identify inherent process risk control gaps and design effective risk control matrices.

Testing Test the effectiveness of primary and compensating controls, to effectively weigh and analyze their business impact.

Remediation Provide remediation recommendations to minimize the burden and financial impact of reiterative testing.

Presentation Provide final test documentation with required evidence and engage in test result presentations with the accounting firm to facilitate the certification process.

Taurus Compliance Consulting, LLC understands the resource constraints of today's business owners (big and small) as well as how compliance with applicable rules and regulations can become burdensome. More importantly, Taurus can help your company achieve compliance in a cost effective manner.
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