The Challenge:
This global, publicly traded bio research and analytics organization acquired several organizations over the last three years, tripling their business both in size and complexity. Three of the major acquisitions were of privately held companies not previously required to comply with SOX and with no Internal Audit functions. The company sought a partner with the expertise to implement end-to-end SOX compliance as well as liaise with the company’s Internal Audit group on behalf of management and provide training to newly identified control owners.
The Solution:
Eliassen Group assembled a team with the requisite expertise. In partnership with our client, we developed supporting SOX documentation (process narratives, process flows); designed and implemented key controls; and led several trainings throughout the year with team members to ensure SOX compliance.
Eliassen Group provided subject matter experts for both business process and information technology general controls (“ITGCs”). The two teams collaborated to ensure timely implementation of the key controls and to provide control owners with examples to ensure the level of documentation of key controls was sufficient to withstand the rigor of an external audit. We also assisted with the remediation of any deficiencies noted during the year and managed the baselining of key reports and automated/configurable controls on behalf of management.
The Result:
Our client achieved SOX compliance for its organization and its integrated acquisitions on time and passed its compliance requirements. We have continued to partner with this client for years.
