If you know that you are ready to launch your entire project now, the Sarbox Compliance Suite has everything you need to perform the necessary work to comply with Section 404. If you prefer to take a phased approach, you may want to look at the Sarbox Small Cap Solution.

Sarbox Solutions has developed a COSO-based methodology and software toolset for performing all of the necessary steps in scoping, documenting, testing and assessing the effectiveness of internal controls over financial reporting. This software toolset has been written with well-known applications (Microsoft Excel and Microsoft Word) that allow users of the software to be productive immediately. The software comes with a highly detailed instruction manual, templates and examples for all areas of work required for Section 404:

Project Scope

  • Material accounts determination and risk assessment
  • Multi-location evaluation
  • IT platforms and applications evaluation
  • Determination of business cycles and related processes
  • Reconciliation of coverage of material accounts and related processes

Entity-level Review of Controls and Risk Assessment

  • COSO-based questionnaire for all five components of internal control
  • Enterprise risk management model
  • Test plans and methodology for assessment of effectiveness

Process Risk Management and Documentation of Key Controls

  • Narratives of relevant processes
  • Documentation of walk-through (test of control design) of each class of transaction
  • Risk/control matrix for each process identifying key control objectives, key internal controls and any control gaps

Test of Operating Effectiveness of Key Internal Controls

  • Sample size determination
  • Testing methodology
  • Specific test plans for each key internal control and documented results of operating effectiveness from performance of testing
  • Identification of control gaps and remediation plan

Sarbox Key Internal Control Repository

  • Repository of control objectives and key internal controls for many common processes for financial reporting and disclosure as well as general IT controls

Assessment of Effectiveness of Internal Control

  • Entity-level (for each of five COSO components)
  • Process level (for each business cycle)
  • Overall assessment of effectiveness

In addition to the deep software library for compliance with Section 404, Sarbox Solutions´ methodology includes:

  • A highly organized file structure of all software templates ready for use on your project
  • A nomenclature that is well-documented, scalable and reusable for downstream monitoring of internal controls
  • A step-by-step instruction manual for each phase of the Section 404 project with embedded examples of Sarbox Solutions´ software tools within the instruction manual for easy reference.

Software License

A software license may be obtained from Sarbox Solutions for use in completing all of the requirements for Section 404 of the Sarbanes-Oxley Act. This software license is a perpetual license for each company with a one-time license fee based upon the number of employees at the company.

To learn more or make a request for a software license, please contact:

Sarbox Solutions Inc.
Sales Department
601 108th Avenue N.E
Bellevue, WA 98004