Region: Philadelphia
Industry: Healthcare
Service Line(s): Risk Management Services
Managed year-three Sarbanes-Oxley compliance effort and created greater efficiency.
Company Background:
VIASYS Healthcare is a global market leader in healthcare technology that specializes in developing, manufacturing, marketing, and servicing high-tech medical devices.
Business Challenge:
VIASYS was under tight time constraints and required testing and control documentation of an acquisition that encompassed 5 locations.
AC Lordi Consulting Solution:
AC Lordi quickly determined the requirements for documentation updates, methodology application, and verification of key controls to ensure completion within a tight timeframe. We applied our proven Sarbanes-Oxley methodology to VIASYS’s existing documentation, rewriting key controls documentation to create greater efficiencies and noting areas of potential risk. We identified three additional locations beyond the originally envisioned engagement that were in scope and required documentation. We presented a well-planned Sarbanes-Oxley methodology to client’s management, audit committee and external auditors. The management report on internal controls was directly linked to the Sarbanes-Oxley planning process, methodology and field testing. We also educated corporate and divisional management on the urgency and need for control compliance.
Value Delivered:
Our well-planned Sarbanes-Oxley strategy was enthusiastically received by the external auditors, management and the audit committee. During the company’s annual review, the external auditors did not identify any material weaknesses and found only one significant deficiency. We assisted management with strengthening the overall control environment and increasing control compliance awareness within the VIASYS corporate headquarters and operating divisions. AC Lordi was subsequently engaged to complete a control standardization project related to the client’s global roll-out of JD Edwards. In addition, VIASYS engaged AC Lordi to manage and execute their SOX year four compliance efforts.