Sox Compliance

ERM CRMComplianceSox Compliance

eFront Standard Solution for SOX Compliance

The 2002 US SOX (Sarbanes-Oxley) law reformed the accounts and financial transparency rules of companies listed on the NYSE. The main goals of this law are to protect investors and make companies and their management act responsibly in their communications and the reliability of their financial information. The Sarbanes-Oxley law requires enterprises to take internal control measures in order to have their financial accounts certified.

eFront Standard Solution Sox ComplianceStandard Solution for SOX Compliance

The Standard Solution for SOX Compliance is based on the COSO II framework and features the following functionalities:

  • The description and revision of corporate repository: significant accounts, company organization,  SOX assertions, processes, roles and responsibilities
  • Formal definition and update of a controls and procedures repository: the aims of controls, risks, controls
  • Scoping: Account mapping, processes, organization
  • Supervision of the system through regular or continuous control assessment
  • Support for the control assessment process (CSA) with configurable workflow circuits
  • Support for the control testing process
  • Support of the 404 certification process
  • Management of action plans, deficiencies and compensatory controls
  • Coordination, reporting, and monitoring

This solution is an integral part of a more comprehensive GRC solution that unifies, optimizes and streamlines transversal corporate governance process and facilitates collaboration with the various control departments (risk management, internal control, and internal audits).