SOX Compliance Solutions
Achieving comprehensive SOX compliance
The experts at Concord Compliance have the experience and knowledge to provide robust SOX compliance solutions.
About the Sarbanes-Oxley Act (SOX)
The Sarbanes-Oxley Act was passed by Congress in 2002 to protect investors by requiring corporations to abide by an annual audit in which they are obligated to provide accurate financial records made pursuant to the security laws.
Failure to comply with SOX can result in civil and criminal penalties, including up to $5 million dollars and up to a 20-year prison term.
Key aspects of the Sarbanes-Oxley Act (SOX)
Applies to All Companies
SOX prohibits all businesses, including private companies and nonprofits, from illegal destruction of financial records and/or infringement on the rights of whistleblowers.
Responsibility for Transparency
SOX requires that CEOs and CFOs acknowledge responsibility for the accurate documentation and submission of all financial reports.
Internal Control Report
SOX requires that management is responsible for internally controlling their financial records, and that all faults must be reported.
Data Security Policies
SOX requires that companies communicate and enforce formalized data security policies that protect all financial data that is stored and used.
SOX Compliance
SOX requires companies to provide documentation that ensures continuously updated compliance with SOX standards.
How Concord Compliance helps you maintain SOX compliance
With Concord Compliance, SOX requirements don’t seem so scary. Our compliance management process utilizes industry-leading professional services to deliver a comprehensive SOX compliance solution that ensures your business is fully SOX compliant. Filling in as your trusted business partner, our team works with you every step of the way to ensure your business is SOX compliant.
One-of-a-Kind Approach
At Concord Compliance, we understand that your organization is unique. So we create compliance programs tailored to your business and ensure that you are provided with the tools needed for SOX compliance. In fact, when we enact a SOX compliance program that works for your organization, we’ll step back and let your staff maintain your program while we simply offer as much, or as little, direction and assistance that you require.
Scheduled Compliance
Our SOX compliance software platform schedules and tracks various testing actions and attestation collections to ensure that your company has the proper security, governance, and maintenance elements to achieve SOX compliance.
Complete Transparency
With Concord Compliance, our compliance management software platform provides historical scorecards and reports in order to ensure complete managerial transparency regarding the status of your company’s SOX compliance program.