Sarbanes Oxley Act (SOX) for Your Public Company or Accounting Firm in Marietta & Atlanta, GA.
A Customized Sarbane Oxley Act Risk Assessment could be vital for your Atlanta organization. If you are a public company, an accounting company for public companies, or owe money to the US Securities and Exchange Commission, the SOX risk assessment is right for you.
SOX HIstory
The Sarbanes Oxley Act, aka Sarbox or SOX, was enacted in 2002. In the Senate, people know it as the “Public Company Accounting Reform and Investor Protection Act.” However, the House refers to it as the “Corporate and Auditing Accountability, Responsibility, and Transparency Act” intended to protect shareholders and the general public from organizations’ accounting errors and fraudulent practices.
In 2016, Representative Jim McDermot proposed a new bill called the Cybersecurity Systems and Risk Reporting Act to bring the bill’s security standards up to date. Unfortunately, the rules are so vague right now; it is up to the interpretation of the person reviewing it.
Requirements of SOX Risk Assessment
SOX Risk Assessment requires companies to maintain financial records for seven years. Other important characteristics include:
- Section 302 – makes the Chief Executive Officer (CEO) and Chief Financial Officer (CFO) personally certify that financial reports are accurate and complete.
- Section 404 – states that a corporation must assess the effectiveness of its internal controls and report annually to the SEC.
- Public Company Accounting Board (PCAOB) – says IT controls must be secured, documented, and consistently working.
- The IT Governance Institute (ITGI) – includes security policy, standards, access and authentication, network security, monitoring, segregation of duties, and physical security.
INSI’s Customized SOX Risk Assessment Program
Do you need a customized SOX Risk Assessment performed? Fortunately, as part of our Managed Security Offering, INSI has partnered with Cybriant to perform customized SOX Risk Assessments while INSI addresses the vulnerabilities. It is a completely customized turnkey SOX solution.
Contact INSI for all of your security needs: 770-387-2424, option 2.
About INSI: The Best MSP in Atlanta!
INSI is the Top Managed Service Provider in Atlanta. We offer complete IT support packages for clients without internal IT and a la carte customized packages for small IT departments. Most importantly, we only charge the client for the exact service and level they need. In addition, this unique support model has proven to save the client money and greatly complemented the client’s internal IT strengths.
About the Author
Deborah Frazier is the author of IT Outsourcing Secrets – A Small Business Guide to Compare IT Support Companies. With nearly 20 years of experience consulting small and medium-sized businesses on their IT support needs, she brings a wealth of knowledge to INSI as Head of Marketing and Sales. If you like this article and want to get notified when a new article is posted, click here.
