Navigating Sarbanes-Oxley (SOX) Compliance with Confidence
Experience a sustainable and robust SOX 404 internal controls framework.
Our name, SOXKey, says it all.
We specialize in one thing: internal controls and SOX 404(a) compliance.
- Expert ICFR Knowledge
- Extensive SOX 404 Experience
- Small-firm Agility
SOXKey offer solutions that cover the entire SOX 404(a) compliance lifecycle, from executing testing with your methodology to developing a forward-looking internal control and SOX framework, always aiming to align with your strategic and compliance objectives. We work closely with your management and independent auditors to ensure seamless coordination while enhancing the operational effectiveness of your internal controls for financial reporting (ICFR) procedures.
We deliver precise, cost-effective, expertise-driven solutions
How can SOXKey be your SOX Solution? We are listening.
More Than Just Tools: We Solve Problems
Flagship SOX 404(a) testing service
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SOX 404(a) and ICFR Consulting
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How is our approach better for managing your testing budget and audit plan milestones?
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SOXKey
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Others
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Less volatility in costing / budget
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Simplified One-Rate
Shift from Tester-Centric to Deliverable-Focused Pricing. For the same set of testing procedures, the cost is the same regardless of tester assigned. Our pricing model is a hybrid of billable hour (rate/hr) and ‘value based’ pricing. |
Tester-centric rates - Price is per hour by tester level. Rate depends on experience levels of available tester. For the same set of testing procedures, the cost is different depending on tester level even if the number of hours charged is the same.
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Hidden costs of quality shortfalls
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Highly Experienced Testers:
No entry-level testers, ever. SOXKey testers average 8+ years of experience, significantly above industry average. Multiple QA steps included. |
Testers’ experience level can vary leaning towards less experienced.
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Backlogs and disruptions to testing plan/deadlines
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Tester is supported by team- no bottlenecks. Expert testers, backed by a multi-disciplinary team, handling multiple controls effortlessly.
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Testing of a control is assigned to one tester. Testing comes to a halt if assigned tester is absent (out sick, on vacation).
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Focus specialized knowledge
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We focus on one area of expertise: SOX testing
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Various accounting and auditing services
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Less volatility in costing / budget
SOXKey
Simplified One-Rate
Shift from Tester-Centric to Deliverable-Focused Pricing. For the same set of testing procedures, the cost is the same regardless of tester assigned. Our pricing model is a hybrid of billable hour (rate/hr) and ‘value based’ pricing.
Others
Tester-centric rates – Price is per hour by tester level. Rate depends on experience levels of available tester. For the same set of testing procedures, the cost is different depending on tester level even if the number of hours charged is the same.
Hidden costs of quality shortfalls
SOXKey
Highly Experienced Testers:
No entry-level testers, ever. SOXKey testers average 8+ years of experience, significantly above industry average. Multiple QA steps included.
Others
Testers’ experience level can vary leaning towards less experienced.
Backlogs and disruptions to testing plan/deadlines
SOXKey
Tester is supported by team, no bottlenecks Expert testers, backed by a multi-disciplinary team handling multiple controls effortlessly
Others
Testing of a control is assigned to one tester, Testing comes to a halt if assigned tester is absent (out sick, on vacation).
Focus specialized knowledge
SOXKey
We focus on one area of expertise: SOX testing
Others
Various accounting and auditing services
From Vision to Innovation
Our Flagship SOX 404(a) Testing Service
At the heart of our flagship internal control and SOX testing service is an unique proprietary workflow our founder developed over the years, combining lessons learned with ideas and inspiration from other industries and disciplines. SOXKey’s testing service is designed specifically for smaller public companies and those without the extensive resources of large corporations. We have reengineered and developed a robust workflow that enhances consistency and quality without reliance on costly IT tools and it works seamlessly with either your testing methodology or ours. Designed to deliver quality without increasing costs, the new proprietary workflow allows for a flexible modular cost structure, so we can offer one-rate agile pricing to our clients. By embracing flexibility and innovation, we empower our clients to maintain a sustainable compliance program.
Proprietary Workflow
Highly experienced manager-level tester supported by a team working within a standardized workflow which includes QA steps to ensure consistency and quality.
At SOXKey, we’re invested in you right from the start – our workflow is from 20+ years of working with companies like yours and understanding the challenges and needs. Our proprietary internal controls testing workflow is also easily scalable and customizable.
With SOXKey’s methodology a highly experienced tester is supported by team members for tasks defined in the workflow. It enables the tester to handle multiple controls, addressing the widespread industry issue of a shortage of testers by increasing their bandwidth. Our workflow ensures all final deliverables undergo multiple QA steps before going out the door.
The result? Consistency and Quality at an affordable, sensible price!
Simplified One-Rate Pricing
Shift from Tester-Centric to Deliverable-Focused Pricing eliminating budget surprises while maintaining consistency and quality without increasing cost.
At SOXKey, there is one rate for testing. Our clients benefit from reduced budget fluctuations as they are no longer affected by varying tester rates based on experience and seasonal availability.
Our new proprietary workflow enables a one-rate, deliverable-focused agile pricing model that is more resilient to labor market fluctuations, and allows more options to adjust costs dynamically and optimize resource allocation. We pass the savings on to our clients.
The result? Top-tier service without the big-firm price tag!
Commitment to Data Security
Our industry-standard IT data security managed services ensure strict protection of client data.
At SOXKey, our comprehensive Data Lifecycle Management (DLM) framework forms the basis for policies and internal training. Our DLM framework covers all phases of the data lifecycle: how data is collected, stored, used, monitored and disposed.
Collection
Data received from client including testing support, testing plans, and emails. Information Classification policy outlines classifying data based on their sensitivity, regulatory requirements, and business value. After classification, the appropriate storage is used.
Data Protection and Monitoring
Includes access controls, encryption and adoption of the principle of least privilege (PoLP).
Removal / Deletion
When the purpose of the data is concluded, deletion or “shredding” takes place.
The result? Your data is safe!
More Focus. More Experience
SOX 404(a) and ICFR Consulting services
At every stage of your Sarbanes-Oxley (SOX) 404 journey, whether you’re a new organization preparing to go public or an established SOX compliant company facing ongoing compliance demands, you deserve a partner who’s been in your shoes. At SOXKey, we bring a wealth of experience in SOX 404 compliance that dates back to its inception.
Our deep understanding of SOX requirements and their evolution over time allows us to provide valuable insights and solutions, especially for smaller public companies and those without the extensive resources of large corporations. We’re here to help you create strong internal control frameworks or improve your current programs. Our goal is to make sure your compliance strategy is easy to manage and fits well with your environment.
SOX Readiness
For pre-Initial Public Offering (IPO), newly public companies, or newly acquired companies being incorporated into already SOX compliant companies, designing, implementing, and integrating an internal control framework can be challenging. Our risk-based approach focuses on aligning your business processes to promote flexibility and scalability while establishing a roadmap that adheres to the current regulatory environment.
SOX Diagnostic
Assess and monitor your SOX compliance program to ensure optimal performance, identify and resolve any underlying deficiencies, and enhance your existing program. Our diagnostic services leverage our flagship proprietary testing service and a pragmatic approach to innovation.
Innovation doesn’t always mean necessitate IT tools which may be too expensive and overkill for organizations of certain size and/or resources.
Outsourced / Co-sourced
SOXKey’s narrative is one of focus, agility, and partnership. You can rely on us to assist in whatever capacity that is most useful to you, whether it’s to alleviate your team’s workload, or extra expertise and resources to help strengthen your program.
We are dedicated exclusively to internal controls and SOX compliance. This singular focus allows us to remain agile and responsive to the latest industry developments, ensuring you always have someone in your corner. When you choose to partner with us, you engage with a team that has a deep understanding of the nuances of SOX compliances and companies like yours.
Our goal is to ensure your internal control and SOX framework is both robust and right-sized for your needs, and leveraging our proprietary testing workflow ensures you have more control over testing costs every year.
Barriers for Smaller and Resource Conscious Companies
Why is it extra challenging?
In addition to limited resources to implement comprehensive SOX compliance programs:
Lack of Tailored Guidance
There's a scarcity of concerted guidance on what compliance programs should look like for smaller public companies and those without the extensive resources of large corporations.
Focus on Large Corporations
While there have been ongoing efforts to improve the compliance process, including updated best practices and IT tools, these solutions primarily target large corporations.
Adaptation Challenges
Companies face uphill struggle to adapt solutions designed for large multinational corporations to their unique circumstances.
The result is often a patchwork compliance program that potentially evolves into a "band-aid" scenario over time.
As your business changes, new controls are added as needed but removal and/or combining of controls are deferred as those changes to the control framework often triggers increased scrutiny and increased audit fees from external auditors. The cumulative effect is a year-over-year increase in internal control costs, as well as diminishing the effectiveness of the ICFR framework and SOX programs. This results in:
Discover how your company can benefit from SOXKey
Take a few minutes to review how the SOXKey difference can make a difference in your SOX 404(a) compliance. Then, click on the link below and discover why you can count on us this fiscal year.
Why Choose SOXKey?