The Sarbanes-Oxley Act was introduced In June 2000, which changed the way in which companies In the United States handle their financial reporting. The Management of all Companies are now required to put in place adequate financial reporting mechanisms, as Stated In section 404 of the Act.

The results of non-compliance to the Sarbanes-Oxley Act come In the form of Penalties. Infinity Outsourcing Is able to help Companies to Implement the changes required In order to become compliant with the Sarbanes-Oxley Act.

Infinity Outsourcing's expert consultants have the experience to enable Companies to Implement changes In the Human Resources and Payroll areas. Infinity Outsourcing's consultants can also help Companies reduce the time and cost Involved In Implementing the appropriate changes.

Infinity Outsourcing is able to:

• Identify oversights within the existing manual processes
• Strengthen employee Information security
• Streamline and sensitize employee termination procedures
• Review and validate product system requirements
• Review workers compensation procedures to ensure accuracy
• Reconcile employee contributions
• Reconcile and validate pension expense accruals and liabilities

Third Party Administrators
There are two ways In which Companies can validate their end-to-end third party administrator (TPA) to be In compliance with the Sarbanes-Oxley Act.

They are as follows:

1. Perform the required documentation controls at the TPA's location
2. Request a SAS70 type II report from your TPA.

It is important that you are aware that even if you decide to request a SAS70 type II report from your TPA, you are still held responsible for any inconsistencies that may occur. Thus, you may be required to do a comparison study of between the TPA’s report and their actual practices.

You also need to take into consideration union agreements and other special requirements. Infinity Outsourcing's expert consultants are aware of these requirements and are able to run comparison studies to identify inconsistencies. If compliance problems are identified, Infinity Outsourcing's consultants are qualified and capable of providing you with the solutions to become compliant.

Mergers & Acquisitions
Infinity Outsourcing's expert consultants understand the importance of internal control issues and can identify any existing problems prior to a Company merger, or acquisition.

Infinity Outsourcing's expert consultants take into consideration how close the merger, or acquisition is to the end of the financial year and when the certification date will be. If the company being acquired has no pre-determined internal control system that your company requires, Infinity Outsourcing consultants are able establish new internal control systems so that the acquisition is fast and a compliant platform is established.

Infinity Outsourcing's expert consultants can also centralize existing processes that occur in multiply locations. Infinity Outsourcing consultants are also able to establish certification, testing and compliance of the new centralized system.

Most importantly, Infinity Outsourcing's consultants are able to ensure that your Company is compliant with the Sarbanes-Oxley Act, while you are taking care of other Company priorities.

If you would like further information about Infinity Outsourcing's Industry leading solutions Contact us today.