SOX 302 Disclosure Committee

Preparing and validating your financial reporting disclosures is made easy with a Disclosure Committee. It’s that extra set of hands ensuring the accuracy and completeness of the financial disclosures in your financial reports.

Canadian Solar

“Working with A2Q2 has been a great pleasure, and in many ways, they have felt like an extension of my own team as we partnered together to fulfill our first year of SOX compliance requirements. They’ve consistently delivered on time and on budget, and I’d strongly recommend their services.”

John Albrecht
Controller

SOX 302 Disclosure Committee

Preparing and validating your financial reporting disclosures is made easy with a Disclosure Committee. It’s that extra set of hands ensuring the accuracy and completeness of the financial disclosures in your financial reports.

In an IPO, why do you care about the Disclosure Committee for SOX 302?

In an IPO, what is the importance of a Disclosure Committee for SOX 302? What are potential penalties if disclosure controls don't exist or if 10K or 10Q are wrong?
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THE DISCLOSURE COMMITTEE: A MUST HAVE FOR YOU

Once you become a public company, the need for SOX compliance kicks in right away. One of the provisions that will greatly impact your company is SOX 302.

SOX 302 becomes a part of your quarterly routine. It is so important that ignoring it is a blatant violation of the SEC rules that make the section required for every publicly traded company in the United States. The CEO and CFO need to submit and directly attest to the accuracy of the financial information in your financial statements – a process that you absolutely cannot leave to chance.

You must ensure that the disclosure of your financial information is accurate, complete, and timely. It’s a rigorous process that can only be simplified with effective disclosure controls.

Having effective disclosure controls means that you have systems in place that will ensure accurate, complete, and timely disclosures of financial information in your 10k and your 10Q. So, effective disclosure controls are a MUST have for you, once you go public – and this is why we stress that you should set up a Disclosure Committee.

Ensure accurate and complete disclosures

The Disclosure Committee is a vital part of your company when it goes public. It ensures that the financial disclosures in your 10K or your 10Q are accurate, complete, and timely. Also, besides ensuring the completeness, accuracy, and timeliness of your financials, the Disclosure Committee also supports the CEO and the CFO’s certifications.

The Disclosure Committee compares the 10Ks and the 10Qs with the press release to check if there are omissions of information like potential lawsuits, risk factors, and other types of developments in the financial section.

Setting up and running a Disclosure Committee might seem hard at first, but we make it easy for you with our step-by-step procedures.

  • Govern the disclosure committee with a charter
  • Establish a meeting timeline
  • Set an agenda for the meeting
  • Committee members should review the agenda before the meeting
  • Hold the meeting and have robust conversations to challenge each other
  • Update any existing litigation
  • Review and approve the 10K and the 10Q

How to Set Up a Disclosure Committee

Let us set up your Disclosure Committee for you

Don’t feel like doing all of that work yourself? Would you like an expert to take away the pain, stress, and hassle – all while giving you the peace of mind that it was done correctly?

Let A2Q2 help. We have been through this process countless times and can work seamlessly with your team to set up your Disclosure Committee. Here’s what you get when you hire us, all for one fixed fee of $20,000.

SOX 302 & Disclosure Committee set up includes:

    1. Planning
    2. Set up process
    3. Sample certification letters
    4. Process owner training sessions (3 sessions)
    5. Disclosure Committee charter
    6. Disclosure Committee meeting agenda
    7. Related party questionnaire
    8. Practice run support

Get in touch today at [email protected] and put us to work for you.

Send your inquiry to [email protected]

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