Ragini Communications Inc.
Sarbanes-Oxley (SOX) Solution   

Sarbanes-Oxley act requires that a firm identify, document, test and audit internal controls to enable SOX compliance.

Challenge

Complying with Sarbanes-Oxley Act creates the following challenges:

  • Identify, document, test and audit internal controls

  • Monitor Financial and IT Controls

  • Retain, retrieve and distribute control-related documents

  • Provide solid audit trail automate and strengthen control processes

  • Automate and strengthen internal control gathering processes



Solution

Key Capabilities

  • Enterprise Wide default Templates integrates Financial and IT SOX controls

  • Customize Enterprise SOX controls templates to fit application level changes

  • Single Dashboard to provide you a preview of your SOX audit status

  • Document Retention & control

  • Auditors Review Module

  • Integrated authorized Signature module

  • Monitors the processes and controls serve and serve as evidence that certify officers have established and effective internal control structure.

  • Identification of Key areas and control points enable the certifying officers to better manage critical processes and drive accountability throughout the organization.

  • Analysis to compress closing cycle time and address redundant, deficient or obsolete control structure.

  • Interactive reporting capabilities and customized dashboards track internal control issues on an ongoing basis, providing ongoing assessment capabilities.


RCI's Sarbanes-Oxley (SOX) Solution provides framework to monitor your Business, Financial & IT Controls. Integrate these controls with your existing SDLC (Software Development Life Cycle) process and you get is an integrated enterprise wide SOX solution that works for your organization.

RCI can help companies address the public reporting aspects of the Act and comply with sections 202 and 404. Our proven methodology identifies priority financial reporting elements, documents the processes, risk and controls impacting those priority elements, and documents the evaluation of the key entity and process level control.


Benefits
  • Reduces time-to-compliance with quick implementations and minimal training requirements

  • Expands and scales as business conditions change and the financial control environment broadens and matures

  • Incorporates changes in the regulatory environment, new PCAOB interpretations and pronouncements

  • Overcomes organizational and geographical barriers to enforce compliance policies




Features

Category Feature
Setup Organization Organization Details
  Setup Business Year
  Workstream / Group
  Application / Process
  Risk
  Corporate Standards
  Signature Matrix
  SOX Control Categories
 
Setup Controls Control Categories
  Control Subcategories
  Add Artifacts
  Add Test Questions
  Link Artifact / Standards
 
Customize Controls Customize Control Templates
  Apply Control Template to Application
 
Audit Controls View Risks
  Review Corporate Standards
  Add Research Documents
  Answer Questions for Artifact
  Sign Off Artifact
Agency Compliance

U.S. Securities and Exchange Commission (SEC)
http://www.sec.gov/



Reports
Data Warehouse provides enhanced reporting. Key out of box report includes:

Title
Company Wide Controls
Audit Status of All Applications
Audit Status of One Application
Audit Status of Your Applications
Signature Matrix Report
GAP Report
Quality Gate Report

Process & Data Approach


Setup Work Stream, Processes & Signature Matrix

RCI SOX solution is based on extensible and highly customizable RCI SOX Framework version 1.0. In Setup Organization module, you can manage organization details, Year, WorkStream, Application, Risk, Corporate Standards and Signature Matrix.


Validate IT, Business and Financial & SDLC Controls

Create enterprise wide standard templates for IT, Business and Financial & SDLC Controls. This feature gives you tight control over Standard controls to be implemented across the organization in various business units.


Customize Controls for Applications

Based on application requirements, standard control templates can be customized at application level which provides maximum control over implementation of controls at application level.


Complete Internal Audit & Document Archiving

View Risk and Corporate Standards attached to each artifact. Add Research Documents and then answer Control test questions as part of Audit controls. Once Signature Matrix is completed, review and confirm completion of audit for each artifact.


Execute Audit Verification Rules

Audit process is verified against predefined business rules which are part of RCI SOX Framework version 1.0. Once Rules are executed Audit Summary is available.


Validate Audit Reports

Our solution provides extensive reporting which includes key management reports like, GAP report, Quality Gate Report, Signature Matrix Report and Audit Status of applications.


Sign-Off by Compliance Officer

Final Sign-Off by Compliance Officer validates Internal Control Reporting for specified duration at Organization Level.

These reports provide enough confidence to CEO to report Internal Control status to Shareholders as well as use these artifacts for regulatory filing obligations.


 

Summary of Audit Per Application

 

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