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SOX Compliance Solutions

Pentana is a complete controls management software application with the tools you need to define and continuously monitor a comprehensive system of internal controls to meet the requirements of Sarbanes-Oxley and covers both SOX 404 for management assessment of internal controls and SOX 302 for disclosure of all material information in financial reports. Any risk-based compliance management programme that requires the identification, modelling, testing and certification of controls can be easily and flexibly implemented using Pentana.

Ideagen control management solutions deliver risk-based SOX (302 and 404) compliance

  • Giving global risk and control owners a simple interface to update their own assessments, definitions, tests and controls
  • Using standard risk and control libraries to assist in identification of potential risks and expected controls
  • Providing a structured workflow to carry out risk and control reviews and assessments
  • Documenting loss events and incidents that may trigger a reassessment of risk levels
  • Displaying simple analyses of inherent and residual risk exposures and control effectiveness
  • Comprehensive reporting of findings, status and progress

Critical Capabilities

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Audit Universe

Capture and model internal controls and establish the correct scope for SOX reporting including all relevant processes, risks, controls and tests. Create a reporting framework that includes all relevant entities, accounts, processes and disclosures for monitoring and testing.

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Risk Management

Pentana offers a risk-based approach for managing internal controls. Controls are risk-assessed to help you think about and decide the frequency, nature and extent of testing. As a risk-based internal audit solution, Pentana provides a rich toolkit for testing controls and reporting findings and results.

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Action and Findings Management

Findings and actions for owners of controls and risks can be managed to closure with Pentana’s user friendly, browser based tasking and action management features. SOX auditors have visibility and control of the automated workflows to ensure that vulnerabilities are addressed correctly and quickly.

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Continuous Monitoring of Controls

The Pentana SOX solution provides continuous monitoring of internal controls so that the status of SOX compliance and enterprise risk can be reported to senior management in real time.

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Reporting and BI

Standard and custom SOX compliance reports provide complete views of risk status, internal control effectiveness, KPI’s and KRI’s and trending.

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UI Enhancements for SOX

The Pentana user interface offers several SOX-specific features that, for example, allow users to retrieve controls from a library and link multiple risks to a single control (multiple risk impacts).

SOX Compliance Solutions from Ideagen

  • Audit team productivity through consolidation of compliance and control management activities in a single system
  • A single system for planning, resource scheduling, oversight and reporting increases management control and effciency of SOX compliance process
  • Eliminate exposure to the risk of non-compliance with near time visibility of progress, status and findings
  • Minimise errors, delays and inconsistencies through a consistent, automated approach to SOX compliance
  • Deploy a standard audit methodology across all audit teams
  • Capture multiple types of information in one easy to access location: audit universe, controls (SOX and Non-SOX), audit programs and work papers, audit findings and ethics hotline case tracking to allow for analysis and reporting to management and the audit committee.
  • Create reports efficiently and in a timely manner
  • View all segment audit work papers from a central location for quality control purposes
  • Implement a comprehensive database of tests that could be shared across the group (rather than starting from scratch with each audit)
  • Make it easy for the audit lead to review work when all papers are clearly organised and labeled

Contact us to learn more about our SOX compliance solutions.

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