Reduce the costs and risks of Sarbanes Oxley compliance
The Sarbanes Oxley Act has created a new world of burdens and risks for senior management of public companies. Compliance administration can be complex and costly – stretching your resources thin. And the risks of non-compliance are huge for those responsible for certifying the accuracy of financial data. But Asset Management Resources can help.
Sarbanes Oxley overview
In response to a number of devastating accounting scandals, the Sarbanes Oxley Act (SOX) was created to ensure accurate financial reporting for public companies. It requires regulated companies to maintain internal controls that ensure accurate financial reporting and to identify material weaknesses and significant deficiencies.
Fixed assets matter
For many companies, fixed assets comprise a significant portion of the balance sheet, making fixed assets a material item for SOX compliance. With more than 65% of fixed asset data typically misstated, misclassified, unrecorded or retired in corporate financial records, poor data quality represents a major potential disclosure risk.
What defines a material breach of fixed asset accounting as it relates to Sarbanes Oxley? Use our Compliance Tester to see if you organization is at risk.
Peace of mind starts here
Asset Management Resources can help you reduce the costs and risks of SOX compliance through our independent fixed asset inventory and reconciliation services (FAIR). Our proven methodologies are the definitive best practice for providing the fixed asset verification required for SOX compliance. Period.
Best of all, we’re the only AICPA SAS-70 type II-certified fixed asset inventory provider saving you the time and cost of conducting the vendor certification Sarbanes Oxley requires.
AMR’s proven services will:
- Ensure rock-solid data accuracy, thanks to wall-to-wall FAIR services
- Ensure SOX compliance and support better strategic decisions based on accurate data
- Mitigate management risk due to misstated fixed asset data
- Reduce compliance costs, thanks to highly efficient processes and our AICPA pre-certified status
- Keep you focused on business, conserving your people and resources for more strategic projects
Learn more about what defines a material breach of fixed asset accounting as it relates to Sarbanes-Oxley compliance requirements.
Take control of your fixed assets – contact us or call 877-401-4639.