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’s possible.
Legacy tools simply weren’t built to handle the rigors of modern SOX compliance.
Toppan Merrill’s SOX Automation is an intuitive, collaborative, SaaS platform that puts you in control, features integrated workflow automation and delivers improved efficiency at every stage.
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.
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.
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.
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.
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.
Minimum internal SOX spend by companies with revenue over $500M
Process level controls at 57% of companies with only 1-3 locations
Of companies increased hours spent on SOX compliance by more than 10% last year
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.
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.
Our relevant experience is unmatched. Market knowledge we provide to our clients is informed by solutions that have been tested and proven accurate.
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).
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.