Sarbanes-Oxley (SOX) codified the audit committee’s obligation to shareholders for the integrity of the company’s reported revenues and earnings. The committee’s broader objective is to never let financial reporting issues obstruct the enterprise’s operations, while assuring shareholders have all the information they need to make an informed investment decision.

Unique to the audit committee’s SOX mandate on disclosure is its role in mediating disagreements between the auditors and the CFO’s office. In order to be able to respond accurately and fully, the committee must have a firm command of GAAP and an equal understanding of how SEC policy weighs on its particular transactions.

The strength, availability and cost of the audit committee’s resources for supporting this objective vary widely. And when a qualified adviser can be found, small and mid cap companies are often unable to command (or budget for) the breadth of staff support and resources the service firms make available to their large and flagship clients. But SOX demands that every audit committee fulfill its mandated obligations to shareholders, regardless of capitalization.

Street Disclosure provides a specialized resource dedicated to the audit committee’s new disclosure related functions. We bring highly practiced technical and problem resolution skills, developed on staff of the SEC and Big 4 accounting, along with a distinctive understanding of how to effectively interface with the SEC staff, as well as the enterprise CFO’s office and the auditors.

The SEC interface attribute is a distinctive feature of Street Disclosure’s advisory service. It gives the audit committee a connected, experienced and personalized SEC support asset for its new role of mediation.

Assuring the integrity of the enterprise’s financial disclosures has always been a serial function of the auditors and management. With the enactment of the SOX legislation, the audit committee has been tasked to oversee that function. Street Disclosure is the audit committee’s tool for accomplishing its objective.

This page is provided by Street Disclosure Corporation for informational, educational and promotional purposes only and is not intended and should not be construed as legal advice.