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.
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.
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.
Learn more about Sarbanes Oxley (SOX) Compliance Requirements or calculate your Sarbanes Oxley 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.
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.
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 Asset Management Resources by completing the form below or call 877-401-4639. Once submitted, your information will be sent to an AMR professional in who will contact you to discuss your inquiry.
We value your privacy and will keep all your information completely confidential.
Do you know what to look for? Find all of the information in Asset Management Services Article.
Quickly learn if a material weakness potentially exists related to your fixed asset Sarbanes-Oxley compliance.
and put the money back in your pocket.
and gain tax reductions and improved management of data.