Region: Philadelphia
Industry: Retail
Service Line(s): Risk Management Services
Provided the company with the tools, methodology, and technology to manage their company-wide Sarbanes-Oxley compliance initiative.
Company Background:
A.C. Moore is a rapidly growing operator of almost 100 arts and crafts stores in the eastern United States that offer a vast assortment of traditional and contemporary arts, crafts, and floral merchandise for a wide range of customers.
Business Challenge:
After reviewing A.C. Moore’s internally-generated SOX documentation, their auditors recommended that they seek outside assistance if they were going to meet the deadline for compliance with PCAOB requirements.
AC Lordi Consulting Solution:
AC Lordi provided the company with the tools, methodology, and technology to manage their compliance initiative. We supported their documentation effort for both process and entity level controls by providing templates, risk libraries, and a timeline. By combining AC Lordi staff with Peopleflex Accounting Professionals contractors we were able to provide the company with 2,400+ hours of human capital to prepare 1,000+ pages of Sarbanes-Oxley documentation in just 6 months. We also managed the entire IT process including strategy, documentation, testing and remediation. AC Lordi performed the initial reporting to the audit committee then helped to transition this process to internal management.
Value Delivered:
AC Lordi provided the overall strategy, expertise, and resources that the company’s initial internal compliance efforts lacked. The company saved both time and money by using our proven methodology to focus on key controls and drastically reduce the amount of documentation and testing needed to assure compliance. Ultimately, the SOX process documentation that AC Lordi helped prepare was delivered on time to A.C. Moore’s external auditors who accepted it with minimal revisions.