Sarbanes Oxley Act

“Public company accounting reform and investor protection act of 2002”

The Sarbanes Oxley Act, which was introduced in the U.S. in 2002, requires companies listed on the NYSE and NASDAQ (including those of the EU), as well as their subsidiaries, to establish a structured and continuous process for the implementation and evaluation of the effectiveness of internal controls aimed at preventing the following crimes:

  • Fraudulent financial reporting
  • Misappropriation of assets
  • Expenditures and liabilities incurred for improper or illegal purposes
  • Fraudulently obtained revenues and assets and/or avoidance of costs and expenses

GETSOLUTION assists the aforementioned companies, operating within both the Finance and IT sectors, in complying with legislative requirements imposed by Sarbanes Oxley Act (SOX) through the implementation of the C.O.S.O. model (Committee of Sponsoring Organizations of the Treadway Commission), namely:

  • Risk Analysis: the identification of the areas at risk and the possible ways in which the aforementioned crimes may occur, including an assessment of the level of each risk identified.
  • Risk Managament: The identification of the Financial and IT controls to be carried out in the aforementioned areas in order to prevent the onset of the risks established by the Risk Analysis
  • The redefinition of the processes analysed, with the introduction of the controls defined by the Risk Management activities
  • The performance of periodic internal audits, the objective of which is to verify the correct implementation of the controls and their effectiveness in the prevention of crimes.
  • Support with regard to the relations between the company’s headquarters and its various international sites
  • Support in relation to the internal audits organized by the company’s headquarters
  • Support in relation to third-party audits
  • Maintenance and continuous improvement of the implemented “Sarbanes Oxley Act (SOX) Governance” model