Regulations known as the Risk Assessment Standards or SAS 104-115, require external auditors to obtain detailed information about the design and implementation of internal controls and to further investigate and document the implementation of the internal controls they deem to be relevant. Due to the similarity between the SAS and Sarbanes-Oxley Section 404 regulations for public companies, this can be viewed as "SOX for the Private Company".

Whether you are aware of these requirements or not, if you are a privately held company with external auditing of your financial statements, this work is being performed by your auditors.

In order to properly scope the work being done and control the costs associated with investigating, documenting, and testing your internal controls, we at Vibato® recommend that you take ownership of this work to ensure that you can both benefit from it and reduce the recurring effort involved.

Vibato® offers the most cost-effective toolset available for scoping and documenting best-practice internal controls, known as SOX Compliance Made Simple®.

Contact us today to find out how we can help you reduce your audit-related costs and leverage the benefits of a strong internal control infrastructure.