Financial Control Management
Driven by 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 financial controls management with the overall compliance strategy.Download Solution Brief
MetricStream Financial Controls Management Software Solution
MetricStream enables companies to manage financial controls efficiently while significantly reducing the cost of complying with SOX 404. Using the MetricStream solution, companies can design, assess, and improve internal financial controls under the COSO framework. They can also monitor their compliance processes at any level of detail, and easily provide evidence to external auditors about the effectiveness of control testing. The solution provides a central repository with comprehensive change control capabilities. It also provides greater control over and clear visibility into issues and the current status of financial controls management.
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. It also provides best practices that help define the control hierarchy, and allows integration of business processes with regulatory notifications and industry alerts.
After evaluating several top risk and audit solution vendors, we believed MetricStream remained unique in its ability to offer a truly integrated solution that would help us gain deeper and more real-time visibility into our risks and controls, and also help us forecast risk with greater accuracy.