Sarbanes-Oxley Management Fortune 200 Diversified Outsourcing Services Provider

Riskonnect Case Studies

 

Sarbanes-Oxley (SOX) Management: Fortune 200 Diversified Outsourcing Services Provider

 

Sarbanes-Oxley (SOX) Management: Fortune 200 Diversified Outsourcing Services Provider

Industry

Business Services

Client

Fortune 200 Diversified Outsourcing Services Provider

Focus

Automate and standardize Sarbanes-Oxley (SOX) compliance to make process
more efficient, accountable and accurate

Previous System

Big Four consulting firm – ongoing engagement – and spreadsheets

Challenge

Managing 800 key SOX controls with no master matrix. Inability to identify most
current and accurate individual control assessment status for lines of business
and locations. Different standards of documentation. Unclear whether risks have
been addressed or even assessed. Trying to determine a single source of truth
depended on e-mails and then manual data aggregation and normalization. As a
result, status meetings couldn’t be held more than bi-monthly, and preparing for
them took a quarter of that time period. A team of four was spending 300 to 500
hours a year, just to try and track status.

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