Region: San Francisco
Industry: Professional Services
Service Line(s): Risk Management Services
Developed and implemented a complete Sarbanes-Oxley compliance program in eight weeks.
“We selected AC Lordi to develop and implement a comprehensive SOX compliance program under a very tight deadline. Their experienced and dedicated staff successfully met our timelines and budget — two years in a row! Since then I haven’t hesitated to turn to them for a variety of special projects, from a forensic Food & Beverage Audit, to implementing the fixed asset module and ongoing customized report writing and production support in our recently implemented PeopleSoft system. They also developed customized reports and compilation tools in support of our 10Q filing process. AC Lordi has become my go-to firm whenever needs arise.”
Joe Callahan, Chief Financial Officer
Company Background:
River Rock Entertainment Authority, a governmental instrumentality of the Dry Creek Rancheria Band of Pomo Indians, owns and operates the River Rock Casino, a gaming and entertainment facility located in Sonoma County, California.
Business Challenge:
As a non-accelerated filer due to public debt, River Rock needed to comply in a short period of time with Sarbanes-Oxley in order to file their 10-K with the appropriate disclosures. In addition, they are regulated by provisions of their compact with the State of California that authorizes casino gaming as well as special federal laws for both the general and Indian gaming markets, which needed to be taken into consideration.
AC Lordi Consulting Solution:
AC Lordi developed and documented their Sarbanes-Oxley methodology and planning; performed a company-wide risk assessment; identified, documented, and tested controls; accumulated the deficiencies; performed an antifraud risk assessment and documented spreadsheet controls; performed segregation of duties analysis; helped write Item 9A (the controls and procedures disclosure); and reported our findings to Company management. We also performed work for areas with sensitive regulatory issues such as revenue, and provided advice around their IT environment for new controls to assist with an upcoming Peoplesoft implementation.
Value Delivered:
AC Lordi completed all work within the extremely short timeframe of eight weeks, delivering their Item 9A disclosure by March 15 and making sure all special regulatory issues were taken into consideration. River Rock successfully complied with Sarbanes-Oxley by filing their 10-K with the appropriate disclosures.