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While many things have been
written about Sarbanes Oxley (SOX) since its inception, nothing that GTS
sees on the legislative horizon indicates that these laws are going away
anytime soon. In fact, our sources believe that there will be more
adherence to the regulations required in the future by our Government
and Regulatory Agencies and /or Foreign entities. This will place
extreme pressure on small to midsized organizations to come into
compliance. In addition, private companies that plan to go public, as
well as many not-for-profit and government/regulatory organizations feel
compelled to comply with SOX because its requirements are increasingly
being regarded as “best practices”. Companies that tend to adopt these
guidelines are today considered desirable business partners and donation
recipients.
While some
organizations will be able to convince Management that additional
personnel should be hired for any SOX related initiatives this will, in
most cases, most probably not be the path taken by the majority of
companies. Increased headcount is expensive for short or long term
projects having intense manpower requirements on the front-end and
reduced maintenance on the back-end. This, compared with Public Audit
firms who are consistently selling their virtues and abilities while
also mandating the type and level of compliance procedures required for
their annual SOX reviews, may not be the most cost effective approach
for your organization. In as much as the projected costs for services
provided by Public Audit firms will almost always approach two to three
times that of GTS, it is suggested that you seek a unique solution that
will fit your Company’s needs while also leveraging your resources.
GTS SOX
Services
The experienced
professionals at GTS Network, Inc. offer a full range of risk management
services pertaining to the evaluation, design, implementation and
maintenance of SOX regulations, including:
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SOX
Section 302 Services
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SOX
Section 404 Services
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SOX
Section 407 Services
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SOX IT and System Related
Services
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SOX Project Management
Services
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SOX Entity Level Control
Services
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SOX Remediation Services
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SOX Management Testing
Services
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SOX Executive Training
Services
These services
range from the initial risk assessment and Executive overviews /
education – where most companies struggle with a very steep learning
curve – to ongoing support as you face annual testing and review
requirements. GTS will help you understand SOX regulatory requirements,
develop project plans, design and implement a SOX system / process for
your company, assist in SOX remediation, perform Management SOX testing,
design & implement SOX reporting and certification processes (Section
302) and provide Management Education services. All of these will help
you meet important deadlines and take appropriate steps toward full
compliance. Our methodology goes beyond SOX compliance! Through
our business risk assessment, testing and monitoring procedures, GTS can
assist you in identifying opportunities to streamline and improve
efficiencies – from using your financial software package more
effectively -- to re-engineering business processes or eliminating
redundant procedures / controls.
Tools and
Technology
At GTS we utilize
the latest paperless engagement technology, data mining and analysis tools to deliver our SOX services cost effectively. We also can utilize
your existing systems and tools to build a more efficient model which,
in turn, reduces costs! or place in operation other models that you, as
the customer, may wish to utilize.
Why Global Technology Solutions, LLC
Most other third
party providers audit around your IT systems and then incur significant
cost in auditing the systems separately. We at GTS audit through the IT
systems, recognizing that changes in business processes have IT
implications. In addition, we include Technology Risk Consultants in
our audit processes to ensure compatibility and integration of systems
in the SOX process. This allows us to avoid sub-contracting critical
tasks and to retain control over the consistency and quality of services
you receive. We understand you face unique challenges in meeting
SOX requirements and, with this in mind, we offer customized and
flexible approaches that are uniquely based on your needs. Our risk
based SOX services are designed to provide our clients with exceptional
value and often yield opportunities to identify and mitigate threats to
your business goals. The result can be a more efficient, better-run
business. You’ll not be disappointed with GTS, either operationally or
financially in any service.
GTS - Financial Services
(Your One-Stop Internal Financial Consultant)
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