Kral Ussery LLC, Certified Public Accountants
TX Office: (817) 416-6842
NV Office: (702) 565-2727

SEC Compliance

Helping companies to stay in the good graces of the SEC:

Streamline your SOX & SEC efforts

Strong Controls are at the Center of SEC Compliance

Effective SEC and Sarbanes-Oxley corporate compliance programs rest on the foundation of strong controls, both in design and operating effectiveness. Kral Ussery LLC has extensive experience ensuring that compliance programs sufficiently mitigate risks to best meet objectives. Of course, a top objective is to keep regulators satisfied, especially the US Securities and Exchange Commission (SEC).

The SEC's mission is to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation. The SEC seeks to accomplish this through rules and regulations for public companies to provide a steady flow of timely, comprehensive, and accurate information. Kral Ussery LLC works with companies to stay within the good graces of the SEC, including SOX. We understand and work with all aspects of SOX and many of the SEC rules and regulations.

Companies must stay in compliance with regulations to best serve shareholder interests. The challenge is finding the right balance of compliance so the company can reasonably mitigate the risks of adverse legal and regulatory actions, while staying focused on strategic and operational objectives.

IPO Preparedness

A misstep in the IPO process can be devastating in terms of triggering more expensive corrective action and prolonging a successful registration process.  A strong project management role must be defined and practiced to ensure that the plotted roadmap to "going public" is realistic and attained. Many factors go into the decision, as several pros and cons of taking a company public exist. There are also many accounting, SEC compliance, and governance considerations to understand as well as the path to take:

  • A traditional IPO process
  • Special purpose acquisition company (SPAC) transactions
  • Going public as an Emerging Growth Company under the JOBS Act
  • Taking a company through a reverse merger into a public shell
Trusted advisors can help navigate the process, confront key decision points and hurdles, and pave the way to a successful transaction. A large part of the process is education and readiness on many fronts, including:
  • Options for going public
  • A realistic IPO timeline based on a readiness assessment
  • Streamlined requirements for an Emerging Growth Company
  • The external auditor's role
  • Structuring the board of directors with appropriate committees and independent directors
  • Financial statement requirements for SEC registrants
  • SEC Reg. S-X, which is an additional layer of financial reporting requirements on top of US GAAP
  • SEC disclosures, including the Management's Discussion and Analysis (MD&A)
  • Designing a healthy control environment to mitigate financial reporting and compliance risks
  • Modifying or enhancing technology capabilities to support changing work streams
  • Preparing the applicable SEC forms, including the S-1 registration statement
  • Addressing SEC comment letters
  • Preparing for life after the IPO or reverse merge event, including accelerated financial reporting requirements
The KU Team can educate, help prepare and even manage these fronts. Don't let a misstep derail your plans - contact us now.

Refer to this link for FAQs regarding IPOs and how we can help.

Sarbanes-Oxley (SOX) Support

We understand the comprehensive nature of SOX compliance in helping companies prepare for all SOX sections. This includes:

  • Public company audit committees (301)
  • Corporate responsibility for financial reports and evaluation of disclosure controls (302 & 906)
  • Disclosures in periodic reports (401)
  • Management assessment of internal controls (404)
  • Code of ethics (406)
  • Real-time disclosures (409)

Kral Ussery LLC provides a full range of SOX-404 services including:

  • Education
  • Staff mentoring
  • Risk assessment
  • Documentation
  • Testing
  • Remediation
  • Project management

Do not leave your SOX compliance efforts in the hands of a consultant looking to simply bill hours. Instead look towards Kral Ussery LLC as a CPA firm to provide advice, training and tools to clients to become more self-reliant. We are passionate about your success, knowing that our success follows.

Refer to this link for further information on how KU can lead or support your SOX efforts.

Pre-Filing Reviews of Current & Periodic Reports 

Public companies face rapidly changing and complex accounting in satisfying SEC reporting requirements. The SEC’s scrutiny of company filings and underlying controls has been on the rise. Many companies, especially smaller public companies, can benefit in having an independent advisor and reviewer on their team to comprehensively review financial reporting and SEC compliance matters. 

KU partners with public companies to accomplish SEC compliance objectives. We provide detailed pre-filing desk reviews of 10-Qs and 10-Ks (all items, including the MD&A), assistance in responding to SEC comment letters, and other financial reporting and SEC compliance matters. We do not perform attest services, so our effort is never in conflict with a company’s external audit or SEC independence rules. Call upon our team as an ongoing resource to address U.S. GAAP and SEC compliance issues raised by regulators and your external auditor.

Moving Beyond the Regulatory Environment

Compliance programs and strong controls provide the basis to help ensure objectives are reached. The risk of fraud, compounded with the reality that virtually all employees and IT systems are prone to some degree of error, means it is prudent to have strong controls in place. While no system of controls can provide absolute assurance that error or fraud will not occur or be detected, sound compliance programs and processes will go a long way towards combating these risks and helping to protect shareholder value.

Strong compliance is a solid investment, as investors will often pay a premium for well-governed companies. Benefits include lower capital costs, reduced insurance premiums, decreased fraud risks, greater access to capital and stronger competitive positioning. Simply put, an effective corporate compliance is good business.

Keeping up with regulatory changes is an overwhelming challenge. This is a core competency of Kral Ussery LLC that can be leveraged for your company. Rely on us to help make your compliance program more efficient and effective.

SEC Training Bootcamps

Get In Touch With Us

Governance Issues TM

A Newsletter to Help You
Protect & Grow Shareholder Value

Free Subscription     View Previous Articles
IPO FAQs | IPO Process | Detailed IPO Process Steps
Home | Privacy Policy | Disclaimer | Site Map

Copyright © , Kral Ussery LLC, Certified Public Accountants All Rights Reserved

Web Presence By Netphoria Inc