LandAmerica Selects CertiSphere-SOX to Aid in Sarbanes-Oxley Compliance :: Business Articles and Info

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LandAmerica Selects CertiSphere-SOX to Aid in Sarbanes-Oxley Compliance
Added: 04/10/2004 Type: Summary Viewed: 535 time(s) [ Not Rated Yet ]

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LandAmerica Selects CertiSphere-SOX to Aid in Sarbanes-Oxley Compliance

Net Endeavor™, Inc., a leading provider of assessment technology, announced today that LandAmerica Financial Group (NYSE:LFG) has chosen Net Endeavor’s CertiSphere™-SOX internal controls assessment solution to assess the effectiveness of LandAmerica’s internal controls across more than 800 offices throughout the United States, Mexico, Canada, the Caribbean, and Latin America.

"I’d like to welcome LandAmerica as a Net Endeavor customer and also congratulate them on being recently named one of America’s Most Admired Companies by FORTUNE Magazine.” said Jeff Hunt, Vice President of Global Sales & Marketing at Net Endeavor. “We’re proud that CertiSphere-SOX was selected as LandAmerica’s Sarbanes-Oxley section 404 assessment tool.”

Sarbanes Oxley Section 404 requires Chief Financial Officers and Chief Executive Officers to certify that their internal controls are sufficient to assure the integrity of their financial reporting. Sarbanes-Oxley mandates that a company’s independent auditor attest to management’s assertion concerning their internal controls. For most businesses, Sarbanes-Oxley necessitates a significant effort in risk assessment, identification/documentation of processes and controls and testing and remediation for every business line, division and/or location. Internal testing must be conducted prior to auditor testing to ensure an unconditional assessment of audited financial statements and the certifying executives must have reasonable personal knowledge of the assessment and have substantiating evidence to back the internal controls attestation.

About Net Endeavor, Inc.:

Headquartered in Pleasant Grove, Utah, Net Endeavor is a privately held technology company that provides assessment software and services in a wide variety of areas including Sarbanes-Oxley compliance and Risk Management. Net Endeavor provides its software and services directly as well as through select Value Added Resellers (VARs). CertiSphere-SOX delivers a completely independent internal controls assessment solution at a fraction of the cost of other packages. All of Net Endeavor’s CertiSphere solutions are web-based and delivered as hosted subscription services over secured internet and thus require no costly investment in infrastructure and implementation.

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