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   Forensic Audit of Service Contract

   Contract Compliance Implementation

  Production Reporting Transformation

   Finance In-Sourcing Project

   e-Business Expenses Project

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Overview:

The Sarbanes-Oxley Act (SOX) Act was introduced because by the United States Senate in response to the large number of embarrassing US corporate failures that culminated in the internationally publicised Enron and Worldcom bankruptcies. SOX applies to all companies that are quoted on the US stock exchange wherever they are located. This means that many multi-national companies operating in Europe must comply.

Brief:

CorGuv Ltd was called upon to implement The Sarbanes-Oxley (SOX) Act in a large multi-national Oil Exploration Company.

Solution:

  Mapping 70 key Business processes across all company departments.
  Identification of Process Risks and Design of 160 Controls.
  Application of structured Project and Change Management to reduce development time and provide sustainable results.
  Internal testing that every control is performed and thoroughly documented.
  External audit assessment of the effectiveness of the controls. 

Results:

  Clean bill of health from external auditors.
  A large reduction in effort spent on duplication and rework.
  Better departmental co-operation and improved teamwork as staff at all levels work together to achieve accurate reporting.
  Significant reduction in the potential for fraud.
  Ready availability of accurate data for senior management decision-making.
  Reduced potential for corporate litigation and loss of shareholder confidence.
  Increased self-confidence in the organisation itself.