Vibato Wins Golden Phoenix Minerals Inc's SOX Compliance Work!

Posted by Teresa Bockwoldt on July 1, 2010

Vibato is pleased to announce the win of Golden Phoenix Mineral's Sarbanes-Oxley compliance work.  Golden Phoenix came as a referral from HJ & Associates out of Salt Lake City, Utah.  

Golden Phoenix Minerals, Inc. was formed in 1997 as a publicly traded for-profit corporation.  It is headquartered in Sparks, Nevada and trades on the OTCBB under the symbol GPXM. The Company is focused on developing and mining superior high-grade deposits of precious and strategic metals to enhance profitability and return maximum value to its shareholders.

Golden Phoenix had a previous SOX engagement effort with an outcome that did not meet their expectations.  This led to the Golden Phoenix team feeling like "SOX is a four-letter word."

Our assessment of Golden Phoenix was that they would benefit from our SOX Basic® toolset, and the referral from their auditors certainly support this idea.  We are confident that our robust framework and integrated testing will exceed our client’s expectations for fully documenting their control infrastructure and providing comprehensive testing of their internal controls.  

We completed their Risk Assessment and Internal Controls Documentation effort yesterday (in one day) and we were also able to gather testing documentation while we were there.  According to their Accounting Manager, "SOX is no longer a four-letter word" and she feels strongly that the implementation will allow her to be more efficient with her monthly activities and she could see a direct correlation with reduced external audit effort.  As with all of our clients, we monitor the return on investment and we plan to publish a case study so look for it after their year-end audit!

We look forward to working more with this great client!! 


Tags: Vibato Success Stories, Compliance tools