Skip to main content

On-demand webinar coming soon...

Sarbanes-Oxley Act (SOX) Compliance

Prevent fraud and improve financial disclosures

Reinforce your company’s culture and operationalize SOX guidelines related to corporate governance, internal controls, and external auditor independence. 

SOX Compliance

Operationalize SOX compliance requirements

Manage financial reporting policies and procedures, protect whistleblowers, and facilitate training from a single platform.  

Customize your training program with expert-level content that matches your mission and values while gaining deeper insights into the success of employee ethics training. 

Align your Code of Conduct to your culture, ethics, and values while improving employee engagement. Our data-rich dashboards allow you to closely monitor employee adoption to keep you informed on your success and areas where there is risk or room for improvement. 

Establish a clear process for recording needed information throughout the case management process and remove hindering roadblocks.  


ETHICS & COMPLIANCE
May 12, 2023 8 min read

‘Culture of compliance’ behind DOJ’s voluntary self-disclosure updates

Is your compliance program ready to do the right thing and step up and own up to misconduct?


FAQs

SOX stands for the Sarbanes-Oxley Act of 2002. Its purpose is to prevent firms from interfering with independent financial audits, ensure accurate financial data, and mandates public companies to adopt procedures related to corporate governance, internal controls, and external auditor independence. Companies are expected to complete a yearly audit of their financial statements with an independent auditor and produce an internal controls report.  

Publicly traded companies, wholly owned subsidiaries, and foreign companies that publicly trade and conduct business in the US are subject to SOX regulations.  

 

Under ordinary circumstances, private companies and nonprofits are not subject to the SOX act’s auditing requirements, but these companies can benefit from voluntary audits. Private companies are subject to the law under its provisions on hindering federal investigations, whistleblowing, and preparing IPOs and sales to public companies. 

In brief, companies must complete a yearly audit on financial information and an assessment of internal control structures. IT departments and their cybersecurity procedures are also examined. The audits must be performed by independent external auditors who are authorized by the Public Company Accounting Oversight Board (PCAOB). 

Our Ethics and Compliance Cloud helps you develop the protocols necessary to adhere to SOX compliance requirements. Streamline the adoption of policies with interactive codes of conduct, targeted outreach, and employee engagement tracking. Set up customized training for your stakeholders. And effectively manage your ethics policies by centralizing them in a single dashboard where you can edit, distribute, and collaborate on changes. 

Ready to get started?

Request a free demo today to see how OneTrust can guide your trust transformation journey.