Region: Philadelphia
Industry: Manufacturing
Service Line(s): Risk Management Services
Led Accounting Department subsequent to initial public offering and managed global Sarbanes-Oxley compliance.
"Thank you guys so much. No doubt Constar would have had a very different outcome without AC Lordi ."
William Rymer, EVP & Chief Financial Officer
Company Background:
Constar International is one of the largest suppliers of PET plastic containers for conventional applications throughout North America and Europe for major brand marketers in the beverage and food industries.
Business Challenge:
Constar spun off from its parent company and went public. As a new company, Constar had dedicated the bulk of its resources to establishing a foothold in the marketplace. This meant that when it came time for the company to implement an initiative to become Sarbanes-Oxley compliant, it was at a decided disadvantage. Because it was so new, the company didn't have the internal resources necessary to dedicate to the initiative or an extended history of financial policies and practices to draw upon.
AC Lordi Consulting Solution:
We partnered with Constar Executive Management to elevate Sarbanes-Oxley compliance to a top priority across the enterprise. Our engagement team worked intimately with the CFO and Controller of Constar to develop an initial plan for compliance. This included establishing a project timeframe, analyzing internal processes, and determining likely risk areas, documenting controls, and testing and monitoring controls. Our plan also ensured participation from the Constar Management team, and that each phase of the project testing was coordinated with the external auditors so deliverables were on target and costs were controlled.
Value Delivered:
Our experience helping companies become Sarbanes-Oxley compliant allowed us to guide Constar through the process with a minimal degree of difficulty despite the company's relatively young age. By demonstrating the importance of Sarbanes-Oxley compliance to key stakeholders in the company, and establishing a strong relationship with Constar financial leaders and its external audit team, we were able to ensure that the initiative touched every significant business area at Constar, and that all areas were compliant by the initiative's target date.