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The Sarbanes-Oxley Act requires a system to record and follow up on complaints about internal accounting controls. These complaints can come from employees, customers or even vendors. Many accounting organizations (e.g.: the AICPA Antifraud Programs and Controls Task Force) recommend that organizations utilize an external hotline service to receive, analyze and report on complaints.
INTERCEPT offers a number of methods to ensure confidential, unbiased, third-party reporting in compliance with the Sarbanes-Oxley Act. We can work with you and establish a confidential hotline for employees, customers or vendors to report expected problems.
INTERCEPT has highly trained representatives who use the right interview techniques to get accurate and unbiased complaints. We set up a confidential method to report complaints to your management or executive committee. We follow up on complaints and we report the results to you.
Whether or not you are legally required to offer this reporting, having a whistleblower hotline can help you prevent problems rather than dealing with them when they inevitably occur. Additionally, employees, customers and vendors who know they can report suspected problems anonymously and/or without fear of retaliation will be loyal to you. This hotline provides peace of mind, and helps you get ahead of any potential problems.
The reporting should remain external to provide credibility. Employees, customers and vendors need to be reassured that reporting can be done without fear of retaliation. Not to mention, leaving this to the experts frees up staff time to run the business.
Costs are very reasonable. We can get you set up with a program in a couple of weeks.