Public companies, large and small, struggle with the concepts, implications and implementation efforts required by the Sarbanes-Oxley Act. The challenges companies face are particularly cumbersome with Section 404 of the Act: Internal Controls Over Financial Reporting. Independence issues and the search for quality technical resources and support has also become a substantial challenge for public company CEO's and CFO's.
GSBB does not perform audits of SEC registered companies. We have chosen to serve SEC companies from an internal perspective, assisting them with a variety of services to meet their critical needs - needs that can no longer be met by auditors due to independence issues.
Our services include:
- Sarbanes-Oxley Section 404 Assistance
- Business Risk Consulting and Internal Audit
- GAAP Technical Accounting Assistance
- Income Tax Planning and Compliance
GSBB has developed a methodology and approach to assist public companies with their Section 404 implementation and compliance efforts. Our methodology is designed for efficiency and cost-effectiveness and our assistance is highly scalable - we can provide high-level focused guidance, project management and facilitation or we can take on the full-outsourced project. GSBB has also launched its Internal Audit and Business Risk Consulting Practice. With the addition of this practice, we not only assist with SOX 404, but we examine a company’s operational processes and develop recommendations for added operational and monetary efficiencies. For more information click here.
In prior years auditors often assisted their clients with the research and related resolution of highly complex technical accounting matters. With independence concerns in today's environment, auditors are often unable or unwilling to help. GSBB has developed a highly technical GAAP standards practice group. We work in concert with CFOs to assist with the the application of complex technical standards (FASBs, EITFs, etc.) and to develop solutions and assist with the presentation of such solutions to the independent audit firm. We assist companies with standards such as SFAS 123r (stock options), SFAS 109 (income taxes), FIN 48 (income taxes), SFAS 141 (purchase accounting), FIN 46r (consolidation) and more.
GSBB also assists public companies with their income taxation needs, by performing corporate and individual tax planning and compliance, in addition to preparing the computations and disclosures required under SFAS No. 109, Accounting for Income Taxes (as described above). These services make it clear to stakeholders that independence won’t be compromised with the company’s External Audit firm.
