The Challenges
- The Sarbanes-Oxley Act (SOX) mandates a stricter governance model and tighter internal controls. It also raises a number of daunting challenges in documenting all critical operational controls, assessing the effectiveness of these controls, and subjecting the assessment report to the scrutiny of independent auditors.
- Strict change controls also need to be implemented for processes, controls, and the associated documentation to stay in sync, so that the investments in documentation right from year one of SOX compliance can continue to be leveraged.
- Organizations are faced with the challenge of sustaining SOX compliance at considerably reduced costs.
Our Solution
Predict360’s SOX Compliance Software empowers organizations to address SOX compliance challenges at significantly reduced costs. Organizations design, assess, and improve internal controls under the COSO framework, monitor their compliance processes at any level of detail, and easily provide evidence that an internal control was validated and tested accordingly. The software also brings greater control over and clear visibility into compliance issues, statuses, and plans.
Key Features
Predict360’s SOX Compliance Software uniquely combines automation and regulatory strength to provide comprehensive change control capabilities. Compliance dashboards and risk heat maps provide complete visibility into the financial control management and compliance process, and highlight important issues that need to be addressed.
- Streamline procedures for surveys and certifications which affirm the strength of internal controls and adherence to policies.
- Stay up-to-date and ready to respond with an index of relevant regulatory websites. Allows easy identification of any new regulations or standards that have been added since the last update./li>
- Captures the requirements you need to revisit and provides assistance in mapping the changes to our documentation and internal controls.
- Flexible dashboards and reports communicate compliance status to Management, Compliance and Risk Oversight parties, effectively proving compliance and efficiently handling audits.
- The solution automates information flows, control assessments and testing, and remediation assignments. Compliance costs are thus dramatically reduced.
