Overcoming one of the major challenges brought on by SOX, the team automated quarterly reports on audit and quality compliance. The detailed testing, documentation, and required reporting finally became manageable and remarkably quick.
Automated SOX reports provide real-time data on General Ledger account assessments and risk ratings. Without the manual effort associated with collecting data, formatting spreadsheets, and checking formulas, the team can now see:
- which accounts are due for assessments,
- which are included in SOX scoping,
- which need to be evaluated to reduce risk exposure.
The team is also looking to integrate SOX with other audit workflows to increase visibility in financials, control effectiveness, and policy writing.