Is your company part of a US public company? In most cases you will be obliged to carry out an annual Sarbanes-Oxley audit. This so-called SOX audit assesses the design of the framework (Internal Control Framework of Reporting) and determines the functioning of the internal control measures within your company. RSM can help you with these SOX audits in two ways: as an auditor and as a consultant.
RSM as auditor for SOX audits
RSM regularly carries out SOX audits for US companies or their business units. In most situations, these companies must have the audit carried out by an external auditor. Your business unit designs the framework and periodically tests its operation. RSM checks this process and issues a signed report. If any anomalies are discovered, we inform the group auditor of our findings.
This audit requires thorough knowledge of and experience with US legislation. Because of our extensive international network, RSM is regularly engaged as an external auditor for SOX-compliance audits.
RSM as SOX consultant for implementation and testing
You can also engage our help in other ways to meet your SOX obligations. We frequently act as consultants when implementing the framework and help management with testing. In the SOX process, it is important for the auditor that you have a thorough risk analysis and that you properly test the functioning of the framework. RSM can assist you in designing this self-assessment and actually testing the audit framework. In that case, a different auditor will perform the SOX audit (under the independence rules this may not be combined).
Would you like more information about special investigations?
Is your company part of a US public company and would you like a SOX-compliance audit carried out? Or would you like advice on the implementation and testing of the framework? Please contact us.