Region: San Francisco
Industry: High Tech
Service Line(s): Risk Management Services
Developed and documented Sarbanes-Oxley compliance methodology, reviewed controls and testing, and prepared subject-specific documentation.
Company Background:
Intraware is the leading provider of on-demand solutions that facilitate the delivery of licenses, software, music, video games, and other digital goods, and manage entitlements.
Business Challenge:
Intraware was a non-accelerated, first-time filer for Sarbanes-Oxley. They had begun a compliance initiative on their own several years prior, but like many smaller companies had lacked the internal resources to complete it. The business and financial systems had also changed over time causing their initial documentation to become outdated.
AC Lordi Consulting Solution:
AC Lordi developed and documented their Sarbanes-Oxley compliance methodology and planning, validated key controls, and mapped entity level controls to the 20 principles and 5 components of COSO as laid out in Internal Control over Financial Reporting – Guidance for Smaller Public Companies. We drafted both an antifraud program including facilitating a scenario-based fraud risk assessment, and a spreadsheet documentation and testing strategy including facilitating implementation. We reviewed and validated their internal Sarbanes-Oxley testing providing comments, and assisted them in drafting Management’s Final Report of Sarbanes-Oxley Compliance.
Value Delivered:
By using AC Lordi on a high-level to develop their overall methodology and review controls and testing, Intraware was able to leverage some of their existing work they had already completed on their own. This allowed them to successfully comply with Sarbanes-Oxley in a more cost effective manner.