SOX Compliance, refers to The Sarbanes-Oxley Act of 2002. The Sarbanes-Oxley Act is known to assist in assuring stakeholders’ safety through stringent improvements in the sphere of corporate financial declarations. The requirements listed in the SOX Compliance process are extensive and non-compliance can lead do severe penalties. Therefore, functions such as internal audit certification, financial disclosure and the like has become important for the organization.
The SOX compliance requirements affirms that all financial reports must include the internal Controls Report & the Year-end of Financial disclosure Reports. These requirements make sure that the monetary data of the organization is accurate and there’re essential checkpoints to protect the financial data. This shows that an organization’s financial data is precise and there are sufficient control measures in place to protect financial data. A SOX auditor will appraise the controls, guidelines, and procedure during a Section 404 Audit.
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