SERVICES
JCL typically as part of all client engagements develops a high-level client-specific road map to SOX compliance. We have two defined programs to assist our clients. Additionally, a fully customized detailed program can also be defined to meet additional client requirements.
Road Map to SOX Compliance
C&A Typical Program Methodology
Overall C&A Program Benefits - Provide valuable insights into operations
- Strengthened control environment
- More reliable documentation
- Better audit committee involvement
- More standardized processes for IT and other functions
- Reduced complexity of organizational processes
More effective use of both automated and manual controls SOX Year One Program
JCL Year One Program is designed for small and medium size companies and foreign filers.
Key deliverables of the program include: - Expert analysis of processes and documentation of controls – ensuring that the program is focused only towards critical controls to minimize testing
- Alignment with client auditors involved in attestation - reducing the likelihood of reportable conditions at the point of attestation
- Identification, prioritization, and timely communication of accounting and internal control weaknesses
- Remediation of high-priority accounting and internal control weaknesses
Ongoing communication to the audit committee
SOX Year Two+ Program
JCL Year Two+ Program helps the client to protect their investment by enabling them to navigate the SOX regulations in the most efficient and cost effective manner. We provide our clients: - Access to high quality and trained resources at lower cost.
- Our unique on-site and off-site approach provides the companies access to skilled resources only when needed.
- Each program is tailored by our experts to specific client needs.
Key deliverables of the program include: - Expert review of existing processes to ensure that documentation is current and the identified key controls are valid
- Testing and summarization of results in an optimal and cost effective manner
- Prioritization, follow up and timely communication of accounting and internal control weaknesses
- Alignment with client auditors involved in attestation - reducing the likelihood of reportable conditions at the point of attestation
- Ongoing communication to the audit committee
Internal Audit
Whether completely outsourced or partially co-sourced, JCL have the expertise to perform the traditional financial and IT audits that were previously neglected.
Key deliverables of the program include: - Provide client’s in-house internal audit with specialist skills
- Provide risk based assurance to enable our clients to effectively manage their business risks
- Provide expertise, support and resources if the client consider internal audit to be a non-core activity.
- Significantly reduce the audit costs, while adding substantial value
- Provide solutions that integrate with and leverages the client’s SOX effort.
General Accounting Consulting
A&C Group offers general accounting support to back office processes.
SOX Training
The Sarbanes-Oxley Act of 2002 is the most far-reaching legislation affecting financial reporting, disclosure and internal controls since the Securities Act of 1933. For the first time CEOs and CFOs are required to certify in writing that not only are their financial disclosures complete and accurate, but that they have enacted "disclosure controls and procedures" to ensure reporting of material information affecting the company. Jafree Consulting LLC. offers both Finance and IT training that can help employees refine their expertise and develop their skill set. The training includes exercise into actual documentation of processes, identification of key controls, audit plan development etc. In addition to theoretical knowledge, the courses are designed to provide consultants real life examples of processes to enable development of skill set
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