top of page

About Us

BANKING PCI DSSv4.0

PCI Data Security Standard (PCI DSS) is a global standard that provides a baseline of technical and operational requirements designed to protect account data. The next evolution of the standard- PCI DSS v4.0- is now available.

​

The PCI Security Standards Council (PCI SSC) is a global forum that brings together payments industry stakeholders to develop and drive adoption of data security standards and resources for safe payments worldwide.

​

PCI Security Standards are developed specifically to protect payment account data throughout the payment lifecycle and to enable technology solutions that devalue this data and remove the incentive for criminals to steal it. They include standards for merchants,
service providers, and financial institutions on security practices technologies and processes, and standards for developers and vendors for creating secure payment products and solutions.

​

The graphic below shows the 15 PCI Security Standards and where they apply to the payment process. All PCI Standards and supporting documents are available in the Document Library.

15PCISecurityStandards.png

What we can do for you

1. PCI Awareness training

$700USD per person

​

2. Certified ASV Scan

$15,000USD* initial scan. If passed no additional fees

$7,500USD if failed and for every re-take

*4 scans per year is the PCI DSS Standard

​

2. Implementation PCI DSS Security Standards

$150,000USD

 

Note All prices are before taxes

We will provide you an expert for you entirely during the training and implementation process, so you can achieve successfully all the standards needed for your industry and avoid multimillion fines.

About Us

SOX COMPLIANCE STANDARD

What is SOX Compliance?

 

SOX compliance is an annual obligation derived from the Sarbanes-Oxley Act (SOX) that requires publicly traded companies doing business in the U.S. to establish financial reporting standards, including safeguarding data, tracking attempted breaches, logging electronic records for auditing, and proving compliance.

​

What is Sarbanes-Oxley? The act demands internal controls for financial records and requires the chief executive officer (CEO) and the chief financial officer (CFO) to sign statements attesting to the accuracy of financial reports. The act also increases fines and criminal sentences for fraudulent reporting. Both stipulations aim to build trust in American corporate investment.

​

The provisions that most impact organizations’ accounting practices involve selecting and maintaining controls on the security of financial documents. They’ll also be held to a higher level of reporting on financial documents and SOX security controls.

Who Must Comply with SOX?

 

SOX has eleven provisions, most of which apply to publicly traded U.S. companies or publicly traded companies in other countries that do business in the U.S. These companies are required to make and maintain internal controls and audit them. They also have reporting and auditing requirements, including utilizing a rotating, independent accounting firm to ensure quality reports. Off-balance-sheet actions require reporting, too.

​

Ultimately, companies publish annual reports for the public with the goal of making their financial statements both reliable and transparent. That makes American markets trustworthy and boosts stock sales. It also reduces financial fraud.

​

So why is SOX compliance required? It helps American businesses find investors, as SOX policies and procedures are designed to instill trust.

​

​

Nonprofits, Privately Held Companies, and Accounting Firm Requirements

 

Certain other SOX guidelines apply to privately held companies and nonprofits. These organizations must comply with provisions that forbid knowingly destroying or falsifying financial documents. In addition, they must comply with federal investigations around financial reporting.

Audit firms must also comply, remaining in good standing with the Public Company Accounting Oversight Board (PCAOB). That includes continuing education for relevant practitioners on accounting ethics and standards and the impact of SOX requirements.

Benefits of SOX Compliance

 

For individual companies, the benefits of SOX compliance include:

​

  • Identifying and strengthening internal controls: Sarbanes-Oxley legislation, much like SOC 2 compliance, gave companies a baseline for understanding the internal control standards that safeguard their data and protect their businesses. What is SOX compliance in accounting? It’s simply the SOX policies and procedures that protect companies from data theft.

  • Reliable, efficient audits: SOX made executive teams accountable for audit results, and internal audit teams have more specific responsibilities for SOX data documentation and SOX testing. That makes the work of external audit teams more efficient, too.

  • Processes primed for growth: With documentation processes in place early, audits are efficient, but so are other company processes, such as staying focused on high-risk priorities and the most appropriate company controls to handle them. There’s integration with IT and across siloed departments early on. Organizations can build security-minded, financially healthy processes from the beginning, minimizing auditing costs and maximizing financial growth.

SOX Compliance Requirements

 

At a high level, what are SOX compliance requirements? It’s a four-step process. The Sarbanes-Oxley Act requires each of the following:

​

  1. Providing financial statements that have been audited by a third party to the SEC

  2. Reporting material changes to the public

  3. Designing, implementing, and testing internal controls

  4. Composing an annual statement on internal controls and their adequacy, signed by management and audited by a third party

 

That third requirement takes the most time for a company that’s new to SOX regulatory compliance, as it involves changes to a company’s IT structure to ensure the security of financial data.

What we can do for you

1. Certified Scan

$15,000USD* initial scan. If passed no additional fees

$7,500USD if failed and for every re-take

​

2. Implementation SOX Security Standards

$150,000USD

 

Note All prices are before taxes

We will provide you an expert for you entirely during the training and implementation process, so you can achieve successfully all the standards needed for your industry and avoid multimillion fines.

Our Clients

bottom of page