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AUTOMATED SOX COMPLIANCE
Take Control Where It Counts
Sarbanes Oxley compliance is a chaotic, consistent strain on enterprise resources. While internal costs and effort show no sign of decreasing, external compliance costs are on the rise. SOX compliance audits continue to grow more and more complex.
Imagine how it would feel if your auditing process could be simplified with an efficient, transparent, predictable solution. It is possible.
THE SOX COMPLIANCE DILEMMA
Decentralised Process, Infinite Problems
SOX Compliance strains enterprise resources and increases risk due to the need for project progression visibility, cross-functionality, significant resource dedication, and internal audit crowd-out.
Together, this translates into risks of failure at each SOX program stage gate.
Control Execution
As resources become strained, control executors struggle to know what they are supposed to measure.
Uncertainty grows around precision of execution, compounded by a lack of knowledge regarding the acceptable standard of documentation, while pressure from all sides muddies the purpose of the control.
Documentation
SOX requirements are always changing, requiring manual updates of information in multiple places.
High user volume increases the incidence of errors, while version control and version history tracking become a nightmare.
Testing
With SOX requirements constantly changing, the PCAOB is constantly updating their focus. Results of walkthrough tests may require documentation reworks and test redesigns.
Version control continues to be a significant issue, in addition to lack of adequate evidence of control execution, client delays, cost overruns, missed internal deadlines, and potential delays.
Deficiency Remediation
Accountability becomes an issue, as does gaining and maintaining management consensus as to a remediation plan and timing completion.
While struggling to provide transparency for external auditors, miscommunications naturally run rampant between external and internal auditors, management, and control owners.
WHAT’S AT STAKE
$1.06M
Minimum internal SOX spend by companies with revenue over $500M
156+
Process level controls at 57% of companies with only 1-3 locations
+59%
Of companies increased hours spent on SOX compliance by more than 10% last year
TOPPAN MERRILL SOX AUTOMATION
One Platform. One Source Of Truth
Toppan Merrill’s intuitive, collaborative, SaaS solution maintains all business locations, processes, risks and controls. This technology, infused with our 50+ years of industry expertise, creates efficiencies, transparency, and predictability of cost.
A Single, End-To-End Solution
Leverage a wholly integrated ecosystem built on SOX rules and business process logic, from control execution through to reporting.
- Provide progress visibility to every aspect of your SOX program
- Secure implementation rapidly, regardless of your programme’s size or complexity
Real-Time Dashboards and Reporting
Maintain transparency and visibility across your SOX program through a single, integrated, interactive dashboard.
- Monitor progress with “Create-Your-Own-View” features along with pipeline and management dashboards
- Meet key internal and external stakeholder requirement with robust reporting features
Integrated Workflow Management Engine
Streamline documentation, testing, deficiency remediation, and review and control execution with customisable workflows.
- Access real-time, 360° reporting and analysis by Division, Location, Department, Control, Tester, Control Performer, and more
- Maintain focus with automated notifications and alerts
Smart Tools for Role-Based Permissioning
Facilitate secure communication and collaboration amongst key stakeholders, both internal and external.
- Manage visibility and restrict programme access by role
- Customise access through unlimited roles and permission levels
Unparalleled Subject Matter Expertise
For over 50 years, we’ve delivered end-to-end solutions to internal audit professionals that solve the many complications inherent in compliance audits. We’ve infused 100+ years of subject matter expertise from the corporate and compliance world’s Big 4 in our intuitive SOX automation solution.
Deep Expertise
Our relevant experience is unmatched. Market knowledge we provide to our clients is informed by solutions that have been tested and proven accurate.
Forward-Thinking Technology
As thought leaders, we are known for crafting intuitive, flexible solutions. We design these solutions to work with your existing systems and adapt to your workflow (not the other way around).
Service-Centric Support
No one makes it easier to do the tough stuff better. We bring a positive, determined attitude and peerless professionalism to our clients’ challenges to get the work done.