Reduction in resource constraints
- Reduces the time required by staff to maintain, test and remediate the system of internal controls for financial reports (ICFR)
- Increases the productivity of internal and external audit teams by facilitating evidence gathering and review
- Enables management to distribute the level of effort required throughout the year
Facilitation of management effectiveness
- Allows access to real-time dashboard content – the right information, anywhere, at any time via the internet
- Improves communications with your key stakeholder groups (audit committee, board of directors, external auditors, etc.)
- Increases management confidence in the system of ICFR
Increase in organizational effectiveness and accountability
- Distributes controls process ownership and accountability throughout the organization
- Facilitates sub-certification and sign-off for 302 certifications and 404 assertion
- Enables multiple test groups (internal and external)
Improved quality and reliability of SOX certifications and assertions
- Centralizes and standardizes controls and testing documentation
- Produces a consistent online audit trail of controls testing and supporting evidence online
Reduction of the burden of compliance through SOX process efficiency improvements
- Facilitates the external auditors' review of management’s internal control environment, potentially reducing external audit fees
- Reduce time required to test and remediate controls through key patented functionality, potentially resulting in a significant increase in productivity
