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
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.

The Disclosure Committee:
Ensure accurate and complete disclosures

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 disclosures for your financial information are accurate, complete, and timely. It’s a rigorous process that can only be simplified with effective disclosure controls. This is why we stress that you should set up a Disclosure Committee.

How to Set Up a Disclosure Committee

Tasks

  • Identify key stakeholders to involve
  • Identify certifiers by function, role, or location
  • Define annual and quarterly schedule
  • Assign roles and responsibilities
  • Draft Disclosure Committee charter
  • Draft Disclosure Committee meeting agenda
  • Draft related party questionnaire
  • Set up eSignature account
  • Prepare certification letters
  • Collect certifier distribution list
  • Set up tracking spreadsheet
  • Set up reminder notifications
  • Prepare training session with certifiers
  • Prepare reporting template

Deliverables

  • Certification process overview
  • Project timeline
  • Disclosure Committee charter
  • Disclosure Committee agenda
  • Related party questionnaire
  • Certification letters
  • Tracking log template
  • Training presentation

Tasks

  • Conduct training sessions for certifiers
  • Send out certification letters
  • Track responses
  • Send out follow-up reminders
  • Send out status reports
  • Receive and review certification letters

Deliverables

  • Certification tracking log
  • Status reports
  • Copies of signed certification letters

Tasks

  • Set up and conduct exception interviews (if any)
  • Evaluate exceptions and document conclusions
  • Prepare certification results summary
  • Present results to Disclosure Committee

Deliverables

  • Exceptions list
  • Results summary charts
  • Final tracking log

No time? Let us set up your Disclosure Committee for you

Don’t feel like doing all the 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

Hire us benefits

  • Planning
  • Set up process
  • Sample certification letters
  • Sample Disclosure Committee charter
  • Sample Disclosure Committee meeting agenda
  • Sample related party questionnaire
  • Process owner training sessions (2 sessions)
  • Practice run support

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