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Shipping & Transport PRECISE. PROVEN. PERFORMANCE. Sarbanes Oxley advisory services
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Shipping & Transport PREC ISE . PROVEN. PERFORMANCE .
Sarbanes Oxley advisory services
Sarbanes Oxley advisory services
Preparing process documentationThe ability to succinctly and rapidly
document your internal processes, the key
controls and to identify areas of potential
deficiency is an important first step in
achieving compliance. Our international
teams have extensive experience of working
across complex multi-jurisdictional
organisations to achieve this.
Risk assessmentWe work with clients to develop a bespoke
financial reporting risk assessment. Our
approach provides a relevant and
proportionate schedule of risks and controls,
and management teams understand how
we did this and why.
TestingWe can design and schedule a flexible
programme of testing that provides an early
warning of potential deficiencies and areas for
remediation undertaking these procedures at
a frequency required by management.
Supplementary services We also support our clients in
other areas, such as oversight of control
remediation, testing of outsourced services,
management of key spreadsheets,
integrating technology risks and controls
into the risk framework and training on
how to operate controls.
With our wealth in shipping knowledge and
specialist teams located in all key global
shipping hubs, we are ideally placed to
assist with risk management and Sarbanes
Oxley implementation. We have the
capability and capacity to work with large
international outfits and are well versed in
multi-jurisdictional assignments, creating
the perfect balance of personal attention on
a global scale and credentials and expertise
which are second to none.
It has never been more important for
shipping businesses to have robust systems
and controls underpinning their operations.
We recognise that the industry is investing
heavily in demonstrating the effectiveness
of governance, systems and controls, often
to support the management disclosures
associated with a public listing.
Our services to support your compliance
under the requirements of Sarbanes Oxley
not only aim to ensure that your systems
and controls are operating effectively, but
also that your business gains commercial
value from the exercise. These services
include:
Project management and implementation Implementing Sarbanes Oxley for the first
time can be a time consuming and complex
exercise. Our international team combines
industry-specific knowledge with significant
experience of working with shipping clients
through a Sarbanes Oxley implementation.
Our shipping credentialsMoore Stephens is widely acknowledged
as the world’s leading adviser to the
shipping industry.
In our long association with the industry,
Moore Stephens has accumulated an
unparalleled depth of knowledge and
breadth of worldwide experience. In
addition, we are part of the Moore
Stephens International network which has
member firms in all of the principle shipping
locations throughout the world. This means
we are able to provide a truly international
service to our clients.
2 Shipping & Transport
The global credentials of the Moore Stephens international network in this area cover the range of services outlined above. Recent clients include the following public interest companies:• Dorian LPG• Euronav• Gaslog• Global Ship Lease• Navig8• Navigator Gas• Scorpio Tankers• Ship Finance
3Shipping & Transport
Case study Having worked with Navigator Gas for a number of years, we were well positioned to advise on their Sarbanes Oxley implementation shortly after listing on the NYSE. The overwhelming success of the group resulted in losing their exemption of complying with the regulations and required management to accelerate implementation of the rules, including the COSO 2013 framework. Having performed a top down risk assessment based on a carefully considered materiality level, the initial challenge was to interview key individuals, understand and fully document the existing procedures and entity level controls.
In doing so, we evaluated the risks against the COSO 2013 framework, making recommendations for improvement and developing solutions throughout the process. Working closely with management and the group’s external auditors, we directed and steered the implementation and managed the key control testing, the success of which was demonstrated by the swift and clean first year reporting.
We continue to work with their team, revisiting and updating the required documentation, reassessing the design and implementation of controls and testing their operational effectiveness on a semi-annual basis, ensuring to liaise with both management and external auditors to ensure that all issues are identified and addressed
before they become problems.
Key global shipping and transport contacts
AfricaSouth Africa – Durban
Jochen Faber
AmericasUSA – New York
Michael Halkias
Brazil – São Paulo
Sérgio Lucchesi Filho
AsiaHong Kong
Helen Tang
Singapore
Chris Johnson
EuropeUK – London
Michael Simms
Cyprus – Limassol
Christos Christodoulou
Greece – Piraeus
Costas Constantinou
Monaco
Andrew Gallagher
Netherlands – Rotterdam
Michael Bick
Norway – Oslo
Bjørn M. Naustheller
Middle EastUAE – Dubai
John Adcock
“ I can’t thank Moore Stephens enough for their expertise, thoroughness and dedication in the work that they carried out for Navigator, evaluating, implementing and testing internal controls over our financial reporting. They were extremely focused on delivery of service with a realistic and pragmatic approach to the business in which we operate.“
Moore Stephens in the UK Moore Stephens is the UK’s 9th largest
independent accounting and consulting
network, comprising over 1,700 partners and
staff in 39 locations.
Our objective is simple: to be viewed by
clients as the first point-of-contact for all their
financial, advisory and compliance needs. We
achieve this by providing sensible advice and
tailored solutions to help clients achieve their
commercial and personal goals.
Clients have access to a range of core and
specialist services including audit and tax
compliance, business and personal tax, trust
and estate planning, wealth management, IT
consultancy, governance and risk, business
support and outsourcing, corporate finance,
restructuring & insolvency and forensic
accounting.
Our success stems from our industry focus,
which enables us to provide an innovative and
personal service to our clients in our niche
markets. Specialist sectors include charities
& not-for-profit, construction, education,
energy & mining, family offices, financial
services, healthcare, hotels & leisure, insurance,
pensions, professional practices, public sector,
real estate, shipping, social housing, sports and
technology & media.
Moore Stephens globally Moore Stephens International Limited is a
global accountancy and consulting network,
headquartered in London.
With fees of US$2.7 billion and offices in 103
countries, you can be confident that we have
access to the resources and capabilities to meet
your needs. Moore Stephens International
independent member firms share common
values: integrity, personal service, quality,
knowledge and a global view.
By combining local expertise and experience
with the breadth of our UK and worldwide
networks, clients can be confident that,
whatever their requirement, Moore Stephens
will provide the right solution to their local,
national and international needs.
Contact informationIf you would like further information on any item within this
brochure, or information on our services please contact:
Steve Williams – Partner, Governance, risk & assurance
London
D +44 (0)20 7651 1952
M +44 (0)7818 464 182
Alex Traill – Director, Governance, risk & assurance
London
D +44 (0)20 7651 1105
M +44 (0)7970 599 823
Michael Kotsapas – Partner, Corporate Audit
London
D +44 (0)20 7651 1023
M +44 (0)7909 916 030
Moore Stephens LLP, 150 Aldersgate Street, London EC1A 4AB T +44 (0)20 7334 9191www.moorestephens.co.uk
We believe the information contained herein to be correct at the time of going to press, but we cannot accept any responsibility for any loss occasioned to any person as a result of action or refraining from action as a result of any item herein. Printed and published by © Moore Stephens LLP, a member firm of Moore Stephens International Limited, a worldwide network of independent firms. Moore Stephens LLP is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Authorised and regulated by the Financial Conduct Authority for investment business. DPS29243 October 2015
Moore Stephens in the UK Moore Stephens is the UK’s 9th largest
independent accounting and consulting
network, comprising over 1,700 partners and
staff in 39 locations.
Our objective is simple: to be viewed by
clients as the first point-of-contact for all their
financial, advisory and compliance needs. We
achieve this by providing sensible advice and
tailored solutions to help clients achieve their
commercial and personal goals.
Clients have access to a range of core and
specialist services including audit and tax
compliance, business and personal tax, trust
and estate planning, wealth management, IT
consultancy, governance and risk, business
support and outsourcing, corporate finance,
restructuring & insolvency and forensic
accounting.
Our success stems from our industry focus,
which enables us to provide an innovative and
personal service to our clients in our niche
markets. Specialist sectors include charities
& not-for-profit, construction, education,
energy & mining, family offices, financial
services, healthcare, hotels & leisure, insurance,
pensions, professional practices, public sector,
real estate, shipping, social housing, sports and
technology & media.
Moore Stephens globally Moore Stephens International Limited is a
global accountancy and consulting network,
headquartered in London.
With fees of US$2.7 billion and offices in 103
countries, you can be confident that we have
access to the resources and capabilities to meet
your needs. Moore Stephens International
independent member firms share common
values: integrity, personal service, quality,
knowledge and a global view.
By combining local expertise and experience
with the breadth of our UK and worldwide
networks, clients can be confident that,
whatever their requirement, Moore Stephens
will provide the right solution to their local,
national and international needs.
