Sox audit

SOX stands for Sarbanes Oxley Act which a US legislation that is applicable to US corporations. It mainly deals with the system of Internal Controls.

Sarbanes-Oxley Compliance

A Checklist for Evaluating Internal Controls

SOX compliance is basically the reponsibility of the CFO & CEO of the company.

In SOX, we basically evaluate the internal controls which are affecting the financial reporting (key controls) and we also check other controls ( non key controls).

Initially, for identified processes/cycles (basically PTP, I&P, OTC & FSCP) a Risk control matrix (RCM) is prepared. As an auditor, we need to evaluate whether the given mitigating controls are adequate, effective & efficient.

thanks everyone.