Sarbanes Oxley Compliance

Section 404 of the U.S. Public Company Accounting Reform and Investor Protection Act of 2002 (Sarbanes-Oxley Act) was introduced to safeguard the interests of the investors after a spate of accounting scandals rocked the financial markets. The act seeks to regulate the reporting practices of companies and fix responsibility on individuals for financial irregularities. The Act among others also governs use of ERP systems to generate reports..

The Problem

Companies are facing increased regulatory scrutiny. The Act requires organizations to demonstrate accountability, fix responsibility, and promote transparency through strict enforcement of reporting guidelines. The Act requires companies to meet very strict disclosure norms, check the authenticity of their financial information, establish standards for internal and external auditors and ensure that the Board of Directors attest to the veracity of the information released. Organizations are required to build in Sarbanes-Oxley compliance audits as part of their compliance system.

2PI’s Value Differentiator

Compliance solutions available in the market are designed to meet the requirements of the Sarbanes Oxley Act, including Section 302. These compliance solutions automate the documentation process, distribute information across the organization using the web or network, and enforce internal controls to ensure that compliance requirements are met. 2PI Solutions has a team of experts who are qualified to address these regulatory requirements and will work with you implement systems and processes that ensure adherence to the Act.