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PeriscopeIQ Sarbanes Oxley
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Sarbanes-Oxley Act - the PeriscopeIQ Solution
PeriscopeSOX
PeriscopeSOX™, a COSO-consistent assessment framework is designed to help senior executives and audit committees of public organizations comply with Sections 302, 404 and 301(4)of the 2003 Sarbenes-Oxley Act.
Section 302 of the 2003 Sarbenes-Oxley Act addresses corporate responsibility for financial reports, stating that the CEO and CFO must certify that all financial statements and disclosures are valid. Section 404 requires a self-assessment of risks for business processes that affect financial reporting. Section 301(4), often called the whistle-blower provision, is designed to shield employees from retaliation when they provide information that they reasonably believe to be a violation of federal securities law.
PeriscopeSOX comprises a set of anonymous assessments that are sent out to various internal groups (financial officers, controllers, audit committee members and a sampling of all employees) within an organization to determine the organization’s compliance with best financial practices, ethics, laws and the company’s own guidelines. The assessments address such issues as whether the organization has made significant efforts to ensure all employees are aware and understand the implications of new obligations; whether all employees are notified of the whistleblower provisions; and whether the organization encourages a culture of open communications. The results from these assessments provide a confidence index for the CEO and CFO, as well as the audit committee regarding compliance with Sarbanes-Oxley provisions.
PeriscopeSOX+
PeriscopeSOX+™ allows organizations to create additional value without significant additional cost. Organizations can take the opportunity to add additional sections to their PeriscopeSOX assessment to create ethics and organizational culture profiles, and to sense employee needs and concerns. The PeriscopeSOX+ offering also includes an Ethical Decisions Risk Audit (EDRA) assessment created by PeriscopeSOX advisory board members and business ethics experts Drs. Bush and Andrulis. EDRA, inspired by the Sarbanes-Oxley Act, is based on their earlier work in the ethics assessment area. PeriscopeIQ converts all the data collected into insights and reports, as well as strategic metrics through its unique online MetricsNow™ feature, in real time.
PeriscopeSOX Advisory Board
PeriscopeIQ has set up an advisory board focused specifically on its Sarbanes-Oxley-related product offerings. The advisory board includes distinguished academic experts, executives, consultants and accounting and law professionals with experience in Sarbanes-Oxley compliance. Among the advisory board members are Drs. David Bush and Richard Andrulis of Assessmentmetrics; Edward Curry, CPA, a seasoned board member and audit committee member of
multiple public companies; Alan Silverstein, a former CEO of a public company, and a lawyer by profession; and Bill Glahn, a partner and director of a large law firm and former assistant attorney general of New Hampshire.
Please contact a PeriscopeIQ sales representative for more information on our Customer Intelligence products and services at 610.866.6001 or at sales@periscopeiq.com.
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