Sarbanes-Oxley compliance

Ensure compliance with financial reporting and auditing standards to minimise fraud risk and build stakeholder confidence

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The world is changing on many fronts – the evolving regulatory landscape creates complexities that organisations may find challenging to navigate, while the associated cost of compliance continues to increase both in real terms and by taking key talent away from higher-value activities.

Companies that are about to list themselves in the United States will need to ensure that their corporate disclosure, compliance oversight, controls monitoring and accounting practices comply with Sarbanes-Oxley (SOX) requirements. Similarly, companies looking to publicly list themselves in Japan are required to comply with Japan’s Financial Instruments and Exchange Law, colloquially known as J-SOX.

How our SOX/ J-SOX compliance services can help you

At PwC Singapore, our experience with auditing numerous listed companies equips us with a unique insight into the requirements of companies across a wide range of sectors when it comes to the specific details of SOX/ J-SOX compliance solutions. We offer a range of tools, resources and accelerators towards a sustainable state whereby SOX/ J-SOX compliance programme quality is delivered at the lowest total cost, including:

SOX/ J-SOX implementation for pre-IPO companies
SOX/ J-SOX rationalisation
Management/ board updates and training

SOX/ J-SOX implementation for pre-IPO companies

To comply with section 404 of the SOX Act and J-SOX, we help you implement internal controls aimed at ensuring the accuracy of your financial reporting. These controls need to meet outcomes specified by regulators, such as segregation of duties, data security policies and proof of compliance. Ensuring that robust internal controls are in place helps prevent and identify errors in financial information, so that corrective action can be taken in a timely manner to protect the integrity of financial reports for public issue.

SOX/ J-SOX rationalisation

We help you determine whether your SOX/ J-SOX internal controls have been appropriately identified. We perform an assessment of your financial reporting risks, and map your existing controls to the identified risks to detect gaps and areas of improvement. To enhance the effectiveness of your internal controls, we help you leverage technology to achieve automation, streamlining your compliance activities.

Management/ board updates and training

We provide training sessions to members of your management team or board to ensure they are aware of the latest regulatory developments issued by the US Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) for SOX and Japan’s Financial Services Agency for J-SOX. We also host training sessions to update management and the board on changes to the Generally Accepted Accounting Principles (GAAP), the International Financial Reporting Standards (IFRS) and developments in the internal controls world.

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Contact us

David Toh

Governance, Risk, Controls and Internal Audit Leader, PwC Singapore

Tel: +65 9186 3006

Yong Jiunn Siong

Partner, PwC Singapore

Tel: +65 9753 6103