Large, public chemical companies have made tremendous progress in meeting the requirements of the Sarbanes-Oxley Act. These companies have documented internal controls, developed compliance strategies, and handled implementation issues. In 2006, smaller chemicals companies and foreign private issuers followed suit.
Many have questioned whether the Sarbanes-Oxley law requirements can be met in a cost-efficient manner. Absorbing the first-year lessons — and, going forward, routinising Sarbanes-Oxley compliance procedures — is a challenge facing all public chemical companies as they prepare to meet quarterly and annual reporting requirements. And further challenges will arise as new compliance issues emerge and PCAOB regulations evolve.
How PricewaterhouseCoopers can help you
PricewaterhouseCoopers has extensive experience — both as an independent auditor and as a consultant — in helping chemical companies meet their Sarbanes-Oxley requirements. We are often called upon to help companies in one or more of the following areas:
- Documenting and assessing internal controls
- Understanding regulatory requirements and developing an effective compliance infrastructure
- Enhancing the internal audit function to support management's assessment of internal control effectiveness
- Supporting audit committee, board and senior executive compliance
- Designing and implementing internal controls
- Enhancing financial closing and internal and external reporting processes
- Establishing effective antifraud programs and controls
- Improving data management and security
