Advise on the implementation and maintenance of sustainable US SOX 404 / J-SOX compliance programs.
Advise on the implementation and maintenance of sustainable US SOX 404
US Sarbanes-Oxley (US SOX)
KPMG's Sarbanes Oxley Advisory Services (SOAS) can help an organization with the implementation and maintenance of sustainable SOX 404 compliance programs through readiness assessments, through documentation and testing assistance and through sustainability assessments. In each of these services, KPMG’s professionals work closely with clients to establish compliance programs, transfer knowledge and provide training to support a successful SOX 404 compliance program.
Japanese Financial Instruments and Exchange Law (J-SOX)
The Financial Instruments and Exchange Law passed by the Japanese Congress on 7 June 2006 requires all public companies listed on the Japan Stock Exchange to assess its internal controls over financial reporting (ICFR) annually.
How we can help
Companies struggle to meet the challenges of increased regulatory compliance while focusing on core business issues and cost reduction in a challenging marketplace. KPMG can help an organization focus on core value-added processes.
KPMG has a long history of providing internal audit services, including those with a focus on an organization’s financial statements and internal control environment. To date, KPMG has provided US SOX/J-SOX advisory services to more than 475 companies globally and more than 35 companies in Singapore.
The significant experience gained by our professionals through previous US SOX/J-SOX advisory services, including project management, control documentation review and ICOFR testing, and other internal control assistance has helped KPMG deliver quality and relevant services as an independent service provider.
Our services can be tailored to individual client needs through readiness assessments, documentation and testing assistance and sustainability assessments. We can assist with the scoping of an overall J-SOX/US-SOX plan and approach, test the design and effectiveness of internal controls to evaluate your current state, and management reporting on evaluation of ICOFR. In each of these services, KPMG will work closely with clients to establish compliance programs, transfer knowledge and provide training to support a successful SOX compliance program.
|Client needs||How KPMG helped||Outcomes|
|Japanese petroleum company listed in Singapore|
|J-SOX compliance - Assess the effectiveness of the entity’s Internal Controls Over Financial Reporting||
Conducted risks and internal controls workshops that engaged key business managers and process owners in documentation, identification of critical risks and controls and control deficiencies at company and process level.
Developed business process flowcharts and risks and controls matrices documentation for the entire organization to comply with J-SOX requirements.
Conducted testing and assisted management in deficiencies reporting and remediation plan.
Enhanced internal control framework.
Assisted client in obtaining a ‘clean opinion’ on its internal controls over financial reporting.
Better understanding and appreciation of internal controls amongst the management and process owners.