Region: Philadelphia
Industry: Healthcare
Service Line(s): Risk Management Services
Managed the entire Sarbanes-Oxley compliance efforts for this publicly-traded company; supported public filings and integration of recently-acquired subsidiary.
“Dealing with the new Sarbanes regulations was a daunting task. We are extremely busy and simply don’t have the time to spare to deal with the extensive Sarbanes requirements. We were lucky enough to have found AC Lordi. We turned over the project to AC Lordi and they have managed the entire process from day one. And we couldn’t be happier with the results. Our outside auditors praised our SOX documentation as some of the finest they have seen. The professionalism, knowledge and poise of the AC Lordi staff is unmatched. In fact, we have been so pleased with the work they’ve done for Sarbanes compliance that we also used their accounting outsourcing resources to help us with a mergers and acquisition project as well.”
Dennis McGrath, CFO
Company Background:
PhotoMedex provides innovative solutions in the areas of dermatology, therapeutic skin care and surgical products and services.
Business Challenge:
As a publicly-traded company, PhotoMedex knew it needed to comply with the new Sarbanes-Oxley regulations by year end. However, both PhotoMedex and its auditors didn’t know how to approach this compliance project and didn’t have the resources to spare.
AC Lordi Consulting Solution:
AC Lordi managed the entire compliance project. We planned the project using our proven methodology, provided the tools and technology, and performed all the work including documentation and testing of process level, entity level and IT controls. We also reported to the Audit Committee, and delivered both hard copy and electronic documentation binders that included work papers, narratives, and flowcharts.
Value Delivered:
PhotoMedex was able to focus its resources on operations while at the same time ensuring that they became fully compliant with Sarbanes-Oxley by the required date.