Sarbanes-Oxley Act, Section 404 Compliance

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SARBANES-OXLEY ACT—SECTION 404 COMPLIANCE

CHALLENGE
The passage of the Sarbanes-Oxley Act resulted in major changes to the SEC compliance practices of many U.S. companies and has served to focus attention on senior tax executives, particularly with audit committees and boards of directors. Accounting for income taxes is regularly found to be a source of material weaknesses under the Sarbanes-Oxley Act. Common findings amongst the material weaknesses reported include ineffective recognition procedures ("tracking") for deferred tax assets and liabilities; issues relating to accounting for foreign taxes; and a lack of personnel with sufficient U.S. GAAP income tax accounting knowledge. As tax accounting issues have recently triggered a number of corporate restatements, external auditors have increased their focus on the income tax provision computation, disclosures and related internal controls.

SOLUTION
True Partners has knowledgeable professionals who have experience in Sarbanes-Oxley compliance and remediation. Our Team of experts is well-versed in all areas of Federal, International, and State taxation as well as in FAS 109, Accounting for Income Taxes. With this knowledge, our team is able to provide clear comprehensive solutions that provide our clients with a reliable resolution to Sarbanes-Oxley compliance concerns. To prepare clients for Sarbanes-Oxley testing by its external auditors, True Partners offers the following services:

• Sarbanes-Oxley Compliance and Testing Readiness
• Tax Process Improvement and Remediation
• Identification and Resolution of Global Tax Accounting Issues
• Assistance/implementation with third-party Tax Provision Software solutions
• Global Tax Provision Preparation Assistance
• Compliance with Reportable Transaction Disclosure Regulations

THE TRUE PARTNERS TEAM
Our Team has provided Sarbanes-Oxley guidance and efficient remediation assistance for a diverse clientele, from Fortune 500 companies to smaller niche businesses across a variety of industries. In addition, our Team of professionals is experienced in all areas of taxation, including identifying and resolving tax accounting issues. Our services are executed by applying our acute understanding of Sarbanes-Oxley, including related controls and documentation requirements, to tax processes.

John V. Aksak, CPA, Northeast Managing Director
631 777 6310 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

John P. Bennecke, Managing Director
312 235 3337 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Michael Chen, Managing Director
408 625 5088 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Gregg P. Dluginsky, CPA, Managing Director
631 777 6311 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Andrea L. Gronenthal, CPA, Managing Director
312 235 3328 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Louis Gomes, CPA, Managing Director
408 625 5099 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Kevin J. Herzberg, CPA, Southeast Managing Director
813 434 4001 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Stanley W. Jozefiak, ESQ, Managing Director and General Counsel
312 235 3306 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Ross J. Valenza, CPA Managing Director
813 434 4002 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Thomas L. DeCamp, CPA Manager
813 434 4012 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Sonali Fournier, CPA Manager
813 434 4017 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

John Hurst, Senior Manager
408 625 5054 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Tanesha S. Jones, ESP, CPA, Manager
312 924 3206 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Sara E. Neff, ESQ, Senior Manager
312 924 3216 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Theodore V. Peck, Senior Manager
631 777 6316 | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it