Your organization has to map its reporting risks and to document and assess the quality of the internal control framework of the company, following which this declaration has to be checked by the Company's auditors who render an opinion thereupon.
Fahn Kanne Control Management will assist you in preparing the company for the requirements of article 404 of the Sarbanes Oxley Act, the article that requires a declaration of the chairman of the board, the CEO, and the CFO concerning the quality of the internal control framework.
Fahn Kanne Control Management specializes in internal control and for the last 20 years Due to our years of expertise in the field of control, we are able to design recommendations that will provide solutions to the requirements of the law on the one hand, and will also conform to the needs of the company on the other hand. Our firm has extensive experience in implementing article 404 at dozens of companies, using the methodology of the Grant Thornton International network in international projects and the professional manpower provided by the branches of the network around the world.
Phase 1 – company level risk assessment and project planning. Phase 2 – documentation of the processes and their controls. Phase 3 – conducting test to check the key controls. Later ask if the documentation and the test result indicate a high level of control. If the answer is no – then an implementation of the new control is needed. Phase 4 - designing new controls, and interim discussions with the steering committee. ? If the answer is yes – then go to phase 5 - management assessment.