As more employees invest heavily into 401(k) plans to look to their futures, it is imperative that financial business reporting have a sound minimum set of standards. That is the rationale behind the creation of Sarbanes-Oxley (SOX) legislation. As companies hurry to meet these standards, many seek help from specialists in this new field. Join the new field of SOX consultants by following these steps.
Instructions
1. Become familiar with the challenges at the senior executive level. There is a constant struggle to please stockholders while meeting government and ethical standards. Show executives an understanding of that struggle with rational approaches to SOX issues.
2. Act as a liaison between management and external auditors. Many companies develop customized approaches to the regulations set forth by SOX. The consultant should be able to communicate the intent of the company to external auditors as well as inform senior management when goals are not met.
3. Write clearly and communicate complex ideas with ease. Issues related to SOX will be a matter of public record. Any consultant in this field should use the KISS (Keep It Simple Stupid) approach to all written documentation. Stockholders, as well as executives and auditors, will not be impressed by documentation that can't be understood.
4. Provide a stress-free environment for the transition into SOX compliance. Communicate all the rules of SOX in a manner that delivers the importance of meeting federal regulations without an accusatory tone. Companies will appreciate a sound, rational and calm approach to these issues.
