Given the credit crisis and financial turmoil during September and October 2008, it makes me wonder whether all the effort regarding SOX has been effective. In other words, SOX improved safeguards around internal controls, financial reporting, conflict of interests, transparency etc. Therefore, should we have expected the SOX program to have prevented or at least mitigated the financial crisis in the US? Read more »

Companies involved with managing a portfolio of financial or physical commitments must have a robust system in place to keep track of the obligations to that have been committed to sellers and buyers of these products. This pertains to primarily to Banks, and companies involved with commodity futures.

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Shades 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 »

The 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 »

The 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 »

GFS Consulting was one of the “early adopters” and began using Microsoft VISTA during October 2007.

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