KPMG’s SOX Health Check assesses the health and maturity of your company’s Internal Controls Over Financial Reporting (ICOFR) program and provides valuable and actionable insights on ways to advance your program. A SOX Health Check is like a physical at the doctor’s office – it diagnoses pain points and develops a prescription for better health.
ICOFR programs often focus on compliance, with less focus on identifying internal control efficiencies or value-add activities. With benchmarks and examples of potential benefits from KPMG, your program can be structured to better align to your strategic direction – support growth, reduce risk, reduce costs, or drive value.
Importance of ICOFR Health
Companies should not wait for symptoms to occur to seek help; they need to have regular check-ups to assess their ongoing health. It is more expensive and stressful to remediate a problem once something has gone wrong or you have had a “close call.”
A healthy, strategically-aligned ICOFR program helps to:
The SOX Health Check provides actionable insights to:
Using quantitative and qualitative criteria, the SOX Health Check considers how your company compares to others on topics such as:
Our professional experience and tested approach can diagnose your issues and guide you through an improvement process. We can help:
Understand key areas of focus
Assess current state ICOFR program maturity
Establish future state roadmap
To learn more, please download the .pdf