Tempur-Pedic Base Case

By Elizabeth Bennett  |  Posted 2005-09-07 Print this article Print

Following its much anticipated IPO, the mattress maker had barely a year to document its policies and procedures for a SOX audit.

Tempur-Pedic Base Case

Headquarters: 1713 Jaggie Fox Way, Lexington, KY 40511

Phone: (800) 878-8889

Business: Manufacturer, marketer and distributor of luxury andspecialty mattresses and pillows.

Financials in 2004: $685 million in sales; $75 million in net income; 11% net profit margin.

Challenge: In its first year as a public company, comply withthe tighter financial reporting requirements of the Sarbanes-Oxley Act of 2002.

Baseline Goals:

  • Define and document as many as 800 critical internal policies and processes that support the company's financial reporting systems by Dec. 31, 2004.
  • Automate 50% of these internal controls.
  • Obtain certification from external auditors that the company is in compliance with the Sarbanes-Oxley Act.

Senior Writer
Elizabeth has been writing and reporting at Baselinesince its inaugural issue. Most recently, Liz helped Fortune 500 companies with their online strategies as a customer experience analyst at Creative Good. Prior to that, she worked in the organization practice at McKinsey & Co. She holds a B.A. from Vassar College.

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