Preparing to go public or already public? We can save you the heartbreak of legal action resulting from an ineffective control environment.
How has your experience been working with A2Q2?
It’s been kind of fun. You never feel pressured about any of it. There’s a lot of laughing going on and there’s no such thing as a stupid question. It’s really been insightful and enjoyable.
SOX 302
Disclosure Controls & the Disclosure Committee
CEO and CFO certify the financial reports
Section 302 of the Sarbanes-Oxley Act requires that your management personally attest to the completeness and accuracy of your financial reports. In order to assist the CEO and CFO gather the required data, typically a Disclosure Committee is set up.
A Disclosure Committee is not required by the SEC, but we highly recommend one. They can be a valuable tool to ensure that controls relating to your financial reports are in place and functioning as needed.
Attesting positively to inaccurate and unreliable information WILL get you in trouble. You’ll need to pay a fine, or face imprisonment, or both! This is why you MUST ensure that all controls relating to your financial reporting are 100% accurate and reliable.
Videos & Articles
- Why form a Disclosure Committee for SOX 302?
- What is the purpose of a Disclosure Committee for SOX 302?
- What are the responsibilities of the Disclosure Committee?
- Who is on the Disclosure Committee?
- When should you set up the Disclosure Committee?
- Who sets up the Disclosure Committee?
- Who runs the Disclosure Committee?
- How often does the Disclosure Committee meet?
- What are Disclosure Committee best practices?
How long have you worked with A2Q2?
I’ve been working with Kim and the team for 10-15 years. The experience has been consistently good over the years, and this engagement is no different.
SOX 404
Disclosure Controls & the Disclosure Committee
CEO and CFO certify the financial reports
ESTABLISH AND MAINTAIN AN OPTIMAL CONTROL ENVIRONMENT
Human Resources (HR) plays a major role in building up, reinforcing and improving the nature of an organization. The duties of an excellent HR personnel includes training and development, payment of salaries, performance management, analyzing benefits, risk and safety control and management, employee satisfaction recruitment, onboarding and reinforcing the values of the business.
In addition to having an efficient HR team, you need an HR Information System (HRIS). This helps your team manage access to employees and payroll. On the employees side, it handles approving employees, editing page changes, and increasing or decreasing. On the payroll side, it handles access to adding employees, removing employees, and making sure all pay amounts are accurate and complete.
At A2Q2, our team of HR specialists are here to guide you through the entire process. We are experienced, seasoned, and knowledgeable professionals. Let us help you look for deficiencies in your processes, and implement systems to bolster them.
Videos & Articles
How do I get ready?
What is required by SOX 404?
- What’s required in the first year for SOX 404A, part 1
- What’s required in the first year for SOX 404A, part 2
SOX 404 Timelines
- SOX 404A timeline for de-SPAC Emerging Growth Company (EGC)
- SOX 404B timeline for SPAC – first time as accelerated filer
- When are SOX 404B controls tested?
How does SOX affect my processes?
- SOX readiness for Entity Level Controls (ELC)
- SOX readiness for Fixed Assets Internal Use Software
- SOX readiness for HR Payroll Compensation
- SOX readiness for Inventory process
- SOX readiness for Order to Cash (OTC) process
- SOX readiness for Procure-to-pay (PTP) process
- SOX readiness for Stock Option Equity Stock Administration
Others videos
de-SPAC & SOX 302
Disclosure Controls & the Disclosure Committee
CEO and CFO certify the financial reports
NAVIGATING AWAY FROM LEGAL ACTION
Immediately after your merger is approved you become a public company. At this point, you need to set up your disclosure committee set up – or even better, have it set up beforehand.
The key responsibility of the disclosure committee is to collect all financial information to make sure all of your disclosures are complete and accurate in your 10K and your 10Q. This is necessary to avoid legal penalties.
Legal and operations take charge of this whole process and look for gaps that the SEC may flag. These gaps may even open up the administration of your company to lawsuits. If any gaps are found, the consequences will shake your company to its core – AND we don’t want that!
That is why our professionals at A2Q2 are ready to offer you their expertise.
Videos & Articles
- In a de-SPAC, why is the Disclosure Committee important for SOX 302?
- After the de-SPAC, what is the purpose of a Disclosure Committee for SOX 302?
- After a de-SPAC, what are the responsibilities of the Disclosure Committee?
- Who is on the Disclosure Committee?
- For a de-SPAC, when should you set up the Disclosure Committee?
- In a de-SPAC, who sets up the Disclosure Committee?
- After a de-SPAC, who runs the Disclosure Committee?
- After a de-SPAC, how often does the Disclosure Committee meet?
- After a de-SPAC, what are Disclosure Committee best practices?
- Immediately after a de-SPAC, what key SOX provisions must an emerging growth company follow?
- Immediately after a de-SPAC, what key SOX provisions must an accelerated filer follow?