Every day, organizations are recognizing and adopting the cloud for its elastic, affordable, and mobile capabilities. As leaders think of their new, cutting edge IT infrastructure in the cloud, they also need to consider their internal control environment (including Sarbanes-Oxley compliance) and how it is impacted by moving to the cloud. For fast growing, Pre-IPO companies, ensuring that internal controls related to financial reporting comply with all aspects of the SOX Act is critical. There is increasing evidence that the state of a company’s internal control environment is something that the investment community is watching more closely.
Comprehensive & Cost-Effective Approach
FoxPointe has developed a comprehensive yet cost-effective approach to ensuring that your internal controls related to financial reporting comply with aspects of the SOX Act. Experience has taught us that unfocused interpretation and broad application of SOX is costly, arduous, and frustrating to management, shareholders, and regulators. Too many companies unilaterally document and test all controls, though this is not usually necessary.
Cloud & Regulatory Compliance
The process of migrating to the cloud is one that takes a lot of the same steps as ensuring that your internal controls are SOX compliant. If SOX compliance is kept in mind during a cloud application implementation, you can save yourself tremendous time and money by not repeating or re-doing overlapping activities.