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Anonymous Certified Public Accountant

SOX for non compliant acquired entity

Asked on June 18, 2014

I am the Controller for an entity wirh $150m in sales which has entered into a transaction to be acquired. The acquirer is a SOX compliant operation. The transaction is waiting for certain approvals and will close in 3 months. The acquirer has requested that we begin preparing the groundwork for SOX compliance and at a mininum we should have the control documentation done in 3 months. on closing they will review / update to their corp standard and begin implementation. Does anyone know any good online resources I can use in this process. I have no SOX experience.

Answers

Patrick Dunne Chief Financial Officer • June 18, 2014

If you want to accomplish this in three months you will most likely need to engage a consultant. I would bring in a "second tier" CPA firm (Grant Thornton as an example) and get a quote. I would "skinny down the scope" as much as possible.

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