Financial Controls Management
Driven by the Sarbanes Oxley Act Section 404 (SOx 404) requirements, companies of all sizes have implemented programs to establish and maintain an adequate internal control structure and assess its effectiveness on an annual basis. The challenge now is to sustain ongoing compliance at lower costs and to integrate the financial controls management with the overall compliance strategy.
MetricStream enables companies to manage financial controls while significantly reducing the cost of complying with SOx 404. Using the MetricStream solution, companies can design, assess and improve internal controls under the COSO framework, monitor their compliance processes at any level of detail and easily provide evidence to the external auditors that an internal control was tested to the satisfaction of the internal audit group. Its document control capabilities provide a central repository with comprehensive change control capabilities. The solution also provides greater control and clear visibility into issues, status and plans to all stakeholders.
MetricStream uniquely combines automation and content to deliver this solution to customers. The system supports automated testing with its built-in library of over 1,500 tests, provides embedded best practices content that helps define control hierarchy, allows integration of business processes with regulatory notifications and industry alerts.
