SOXShades of SOX As changes to financial reporting, IT systems, business processes and perhaps entity controls evolve throughout the IFRS conversion time frame, it’s critical that internal controls, especially those related to NI 52-109 and SOX 404 certification, are maintained, redesigned and operate effectively throughout the IFRS conversion project. Read more » Tags: Bill 198, IFRS TAX Testing - C-SOXFound in SOXThe TAX process can often be one of the most complex processes, due to the inherent complexity of the various types of taxes that impact organizations. Read more » Tags: taxThe Purchase, Payments and Payables (otherwise known as PPP), is one of the most important C-SOX processes to review as it pertains to cash disbursements controls. Read more » Tags: PayableS, Payments, PPPVISTA - SOX ImplicationsFound in SOXGFS Consulting was one of the “early adopters” and began using Microsoft VISTA during October 2007. Tags: Microsoft Vista, SOXC-SOX Cash Receipts TestingFound in SOXWithin the Revenue, Receivables and Receipts processes, the Cash Receipts is the final process, wherein all the hard work throughout the organization comes to fruition - the organization collects cash for goods and services that is has provided. Read more » Tags: cash receipts, testingC-SOX - Testing Accounts ReceivableFound in SOXSimilar to the Revenue recognition process, for most companies the $ value of their Accounts Receivable represents one of the largest assets on their Balance Sheets, and accordingly, these amounts are usually very significant / material. Therefore, the SOX Business Process should be carefully reviewed and tested to ensure that no internal control gaps exist that could result in financial reporting misstatements. Read more » Tags: accounts receivable, C-SOX, testing |
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