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Sarbanes Oxley Compliance & SAS 112 SOX is no longer just a program it’s a part of daily governance and risk management. The same holds true for non-profit SAS 112 requirements. We have developed a pragmatic approach and deliverables toolbox that is cost-effective and sustainableOur regulatory compliance experts have implemented enterprise compliance efforts for multiple industries. Our teams work closely with key executives and external audit firms to ensure relevance of controls and processes. Forward Hindsight clients vary from large global conglomerates, to early stage start-ups, to non-profit organizations. We maintain a high degree of independence so external auditors can rely on our work product.
Our services cover three critical areas – Entity Controls, Financial Controls and Information Technology Controls.
- Risk & Relevancy Assessment. We assess the current state and future state risks to the business and adapt compliance efforts to match the organizational profile. Our experts look at industry benchmarks and assess our clients’ state of controls against those. This helps establish relevancy and a long term plan to institutionalize compliance efforts.
- Process and Workflow Documentation. We have developed industry standard templates to capture processes and related controls. We have standardized workflows for commodity functions and have developed industry standard policies for critical Information Technology areas.
- Gap Inventory and Materiality. Our risk-based approach enables us to focus on materiality. This makes compliance efforts practical and linked back to business drivers. We inventory gaps based on risk probability and impact.
- Remediation Recommendations. We recommend remediation strategies that reduce the cost of compliance over time. We force our clients to prioritize remediation based on practicality and current business environments. We work closely with management, audit committees and external auditors to ensure seamless and clear communication so that the remediation efforts produce the right results.
- Testing. Evidence is extremely important to compliance efforts. We have developed standards, procedures and guidelines around testing and sample sizes. In many cases the external audit teams rely on Forward Hindsight testing results which in turn reduces external audit costs.
- Education & Communication. A strong education and communication program provides a head start on compliance efforts. We have created standard education and communication “teach outs” that help clients drive accountability and ownership into ongoing organization compliance efforts.
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