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Although the wide-reaching Sarbanes-Oxley Act of 2002 (SOX) applies only to public companies, there are internal control components to it that - if proactively applied by private companies and not-for-profit organizations - can help build, maintain and improve the value of your organization.

A thorough understanding of internal controls and how they create shareholder value is critical for any organization,including private companies and not-for-profits. It is the responsibility of the board of directors, management and auditors to effectively govern risk.

An effective system of internal controls forms the foundations necessary to build, maintain and improve shareholder value. For example, if an organization needs additional resources or capital, having a solid system of internal controls helps provide stakeholders with a degree of confidence.

In addition, third parties that do business with a not-for-profit organization or a private company may have policies that require internal controls or compliance with SOX.

How we can help
At RSM McGladrey, we believe that managing risk in key areas of your business helps safeguard the future of your organization.  All organizations can benefit from ensuring accurate financial reporting, maintaining effective corporate governance, and mitigating threats to viability and performance.

In addition to retaining the confidence of stakeholders, effective risk management yields opportunities to improve efficiency and provides management with a better decision-making vantage point.

Our risk management approach uses the Committee of Sponsoring Organizations (COSO) of the Treadway Commission framework — the standard for internal control. Not only is COSO an integral component of our methodology, but the essence of the framework is built into our software tools.

Why RSM McGladrey
Unlike many companies, we utilizeIT security professionals. Our IT teams specialize in major applications andsystems, allowing us to avoid subcontracting critical tasks and helping usretain control over the consistency and quality of the services you receive.