EMR

Risk assessment and audit

EMR has expertise in conducting risk assessments and audits for customers on global scale. This service offering includes an audit program is implemented in the customer’s offices in various countries. EMR team members seamlessly merge into the customer’s corporate internal audit group. Focus areas addressed by the risk management and audit teams are:

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Compliance to Corporate Accounting Manual (CAM)
US GAAP Compliance
Accounts Receivable Reserves Cycle
Inventory Reserves Cycle
Fixed Assets Depreciation Calculation
Disbursements Cycle
SAB 101-Revenue Recognition
Reconciliation of Balance Sheet Accounts
Entity Level SOX Control Testing

Sarbanes Oxley (SOX) Testing & Compliance

EMR has expertise and considerable experience in conducting SOX testing for over 150 SOX controls. Sections 302 and 404 of the Sarbanes Oxley Act 2002 lay down a various legal requirements related to disclosures and internal controls for all companies registered with the SEC. EMR conducts the attestation of disclosures and internal controls as an external auditor. Outsourcing of SOX testing and compliance to a third-party is recommended and is being widely adopted by a large number of organizations due the following reasons:

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The assessment and attestation will be more independent and unbiased. If this is done internally by the management, some routine procedural deficiencies may go undetected or may be overlooked
Outsourcing SOX testing to a third-party who offers the same services to a variety of customers assures you of best practices that the service provider assimilates. As a result, valuable suggestions are likely to come in from the service provider which will strengthen the customer’s internal controls
Cost effective solution
Ensures improved timeliness and better accountability