Business Challenge

In preparation for listing readiness on a US Stock Exchange, client wanted to Implement a SOX complaint book close process for all it's group entities.

Solution Implemented

• Process walkthrough and drafting of RACM
• GAP identification
• Detailed Key GL level close calendar with owner and signing off authority.
• Checklist to signoff Key GL accounts.
• Detailed drilled down P&L for better review.
• Implemented a phased review of Key items by Finance Controller as against when entire final books are ready.

Our Impact

• SOX Compliance Readiness in 12 months : Within 12 months ensured 10+ group entities are SOX compliant.
• Quarter close deadline compliance : SOX compliant implemnted reporting imlemented within deadlines.
• Improved quality of Month close : Better accuracy through improved quality of provisions, additional assurance processes like ageing of provisions, drilled down data with exceptions, roll forward analysis of key Balance Sheet items.