Reduce the cost of Sarbanes Oxley Compliance using Control Automation

Why Should You Attend:

Streamlining controls and control tests by implementing effective, reliable automation can significantly increase the quality and confidence of these programs while decreasing risk, human resource requirements, valuable time and associated costs.

World-class compliance, risk management and process owners realize that automating controls is the logical next step in reducing the ongoing costs of Sarbanes-Oxley and other compliance mandates. Sarbanes Oxley for example, demands ongoing and repetitive testing of financial reporting related controls:

• Greater than 50% of 404/302 costs are control testing
  - Costs Are Repetitive and Ongoing
• Large percentage of testing is manually intensive and IT dependant
  - Largely a process of manual evaluation of data collected from existing ERP and BI functions and reports
• Resources are limited and coverage is difficult
  - Simply not enough affordable man hours to perform all the tests (expensive in sourcing)
• Constraints force
  - Small sample sizes / Infrequent tests
  - Tight turn around / Stressful remediation
• Problems grow multi-fold with complex org-structures and IT assets
  - Multiple ERP systems (Oracle, SAP, PeopleSoft, Other and Niche applications)
  - Database, non-database and unstructured information

This session is targeted at compliance and risk managers who are looking to leverage leading technology to increase quality and reduce the costs of compliance and process management. The format of the session will be a presentation, followed by Q&A. Many examples will be used during the course of the presentation. In the presentation, we will present examples of continuous and proactive controls / tests which can:

• Increase control coverage and quality
• Lower Testing Related Man Hours / Costs
• Perform more frequent testing with higher sample sizes without systems degradation
• Free up resources to focus on other areas
• Consistently implement controls / tests across multiple and divergent platforms

Who Will Benefit:

• Compliance Management Professionals
• Process Owners
• Internal Audit Professionals
• Quality Analysts
• IT Support personnel for Compliance and Risk Management Programs

Instructor Profile:

Arthur Stewart, Partner, Greenlight Technologies Inc. He brings over twenty years of process / control automation and business intelligence applications development experience, six years serving the top ranks of Ernst & Young, developing audit, risk assessment, internal control, knowledge bases and other governance related applications and services.

Awarded Ernst & Young
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