SAN FRANCISCO, Feb. 24, 2009 (GLOBE NEWSWIRE) -- SOX Professionals, LLC, a leader in innovative and cost-effective Sarbanes-Oxley (SOX) compliance solutions, announces the release of the SOX Compliance Made Simple product suite designed for non-accelerated filers needing to comply with Section 404 of the Sarbanes-Oxley act of 2002. This revolutionary new approach allows you to establish and manage effective internal controls, reduce audit costs, and mitigate business risk for a fraction of the cost and effort of traditional approaches.
The traditional consultative approach to SOX implementations, requiring months of effort and more than $100,000 in cost, is no longer necessary. A broad range of implementation experiences has shown that these timeframes and costs relate to the non-standardized documentation and testing methods used today and the lack of "best practice" knowledge being applied. The SOX Made Simple approach is an integrated, fixed-price, solution used to establish a set of benchmarked controls and test plans which can save up to 50% of the audit budget and be completed in weeks instead of months.
A recent article from CFO.com cited comments related to SOX compliance from Mary Schapiro, the new SEC chairwoman, which included the following; "For example, she plans to require that small publicly traded companies comply with the auditor-attestation requirement of the Sarbanes-Oxley Act - which they've been able to avoid since the law was passed nearly seven years ago. "Right now, we have a system where some issuers are complying with 404 and others are still exempt from it," Schapiro said in written responses to several questions by Sen. Carl Levin. "It's time we bring uniformity to the system."
SOX Compliance Made Simple takes the ambiguity and inefficiency out of SOX compliance and replaces it with clear step-by-step instructions and standardized controls based on industry best practice, Six Sigma guidelines, and Fortune 20 procedures benchmarked against the Big 4 external audit plans, objectives and risks. This approach has been tested hundreds of times across organizations of all sizes and industry profiles with the same results - successful assessment, documentation, and remediation of all internal controls, reduced control counts, and reductions in audit fees and durations.
SOX Professionals, in conjunction with Tatum(tm), LLC and NASDAQ OMX(r), is offering four one-day seminars to identify compliance needs in Salt Lake City, Utah during the week of April 6-10th. "We believe in this unique approach to addressing the demands of SOX compliance for smaller reporting companies, and we are working with SOX Professionals to deliver this cost-effective solution to our clients in an effort to meet their compliance goals. By participating in the seminar, each attendee will leave with a completed risk assessment which is a critical first step in developing or updating your compliance strategy," stated Bob Bench, Managing Partner of the Salt Lake City office of Tatum LLC.
Teresa Bockwoldt, Co-founder of SOX Professionals, said, "We recognize and appreciate the cost and complexity of meeting Sarbanes-Oxley requirements and our objective is to help our clients do it successfully as quickly and cost-effectively as possible without losing sight of the fact that having strong internal controls can further improve the financial transparency and operating efficiency of their company. The recent predictions that non-accelerated filers may need to comply this year means that now is the time to put their compliance strategy in place. Providing the Risk Assessment as part of the seminar already puts the participating companies ahead in scoping their compliance initiatives. They walk away with a map showing them where to start, the cost and effort required, and a timeline for completion using SOX Compliance Made Simple, the simplest approach available today."
About SOX Professionals
SOX Professionals, LLC is an organization of accounting, audit, tax, and IT professionals dedicated to providing the most cost-effective compliance solutions available. Our mission is to help you reduce audit fees, improve financial transparency, and run your business more efficiently. For more information please visit at www.soxprofessionals.com or contact us directly at mail@soxprofessionals.com.
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About Tatum
Tatum is the largest and fastest growing financial executive services firm in the United States with nearly 1,000 partners and principals in 37 offices. Its services focus on the office of the CFO with experienced CFOs and Controllers who serve private and public companies on an interim basis for periods of a few days to several years. Tatum has served over 6,000 clients in every major industry and every stage of life cycle and is trusted by private equity groups, fund managers, investment banks, commercial banks and lending institutions.
SOX Professionals, the SOX Professionals logo, SOX Compliance Made Simple are registered trademarks of SOX Professionals, LLC. All other trademarks are the properties of their respective owners.