Find Sarbanes Oxley Utilities for Corporate Risk Management

Sarbanes-Oxley Utilities
When discussing Sarbanes-Oxley utilities, what is specifically meant is software designed for various heavy-duty, practical uses. There are several different requirements that need to be met with the Sarbanes-Oxley Act, and more specifically with sections 404 and 302 of SOX.

Sarbanes-Oxley utilities are meant to assist users of both small and large organizations, to meet these requirements. Sarbanes-Oxley utilities would offer risk analysis software for collection, storage, and analysis of risk and control performance data. Organizations will have the capability to achieve full realization of the business benefits of integrated assurance and risk management.

Section 404 of the Sarbanes-Oxley Act requires a conclusion as to the adequacy of controls, not just the existence of controls. Any external auditor needs to attest to the effectiveness of your controls, and that alone generates a need for sound comprehensive documentation, which would be provided by Sarbanes-Oxley utilities. Being that ongoing compliance requires that your data be updated and re-certified quarterly, the rules for all compliance have yet to be finalized. Organizations will need solutions that have the flexibility to change as rules evolve.

Any team or management's evaluations of controls are not easily compiled, and definitely cannot be shortcut. Sarbanes-Oxley utilities are the key to an organization's assessment of their capability to conclude how well controls reduce the possibility of significant errors arising in the financial statements. A vital part of an organization's management process is a good understanding of the risk of error, as well as the continuing operations of effective controls. Paisley offers market-leading packages of software for risk management.

Powerful Paisley Solutions

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Risk Navigator® was designed to help companies with Sarbanes-Oxley Act compliance. It can assist with the development of policies and establish long-term corporate and software risk management solutions to Sarbanes-Oxley regulation. It’s an immediate solution with the capacity for full control and integrated Sarbanes-Oxley utilities - software for the future.

CARD®map software was designed to help organizations meet risk and control governance responsibilities including risk assessment analysis for the Sarbanes-Oxley Act and emerging Basel operational risk requirements resulting from the Basel Accord; an excellent enterprise risk management tool used by Sarbanes-Oxley consultants everywhere.

FOCUS® is web-based internal audit software designed specifically for Sarbanes-Oxley compliance, particularly in relation to Sections 302 and 404 requirements. It is a fast, easy way to Sarbanes-Oxley compliance. It documents all risks and controls, establishes accountability, identifies gaps, tracks action plans and provides for management certification. FOCUS provides the level of detailed documentation required to satisfy external auditors in the most efficient way possible.

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Software Risk Management
Software for risk management, such as CARD®map, is designed to assist organizations meet their risk and control governance responsibilities, as well as improve business performance. With the Sarbanes-Oxley Act, recent U.S. securities legislation, and the emerging Basel operational risk requirements, the time for software for risk management is now.

This specific software for risk management includes reporter fields that will alert senior management to significant control and risk issues. The software also uses vigorous assessment scheduling capabilities and reminder calendars to help manage all levels of the organization, as well as to assign accountability for risk/control assessments, action plans, and quality assurance. This specific software for risk management is also high impact, allowing users to drill down graphs and custom reports, attaching working papers and other documents.

Corporate Risk Management
To be a global leader in the emerging areas of integrated risk management, enterprise-wide risk and assurance management, collaborative assurance, and risk design software, as well as training services, you must have an outstanding grasp of corporate risk management, and everything entailed in that.

Corporate risk management and the software to go along with that must have the capability to integrate and fully capitalize on the risk and assurance efforts of several integral units in an organization. Senior management, work units, internal and external auditors, safety and environmental specialists, compliance units, risk and assurance personnel and many others will be able to capitalize on risk and assurance efforts. Corporate risk management tools should include consulting services, computer based training on risk and control assessment, and a wide range of risk and assurance training workshops.

Organizations that would like to meet the reporting requirements set out by the Sarbanes-Oxley Act, and more specifically, sections 302 and 404, with cost efficiency, would benefit from the use of corporate risk management tools. Organizations that would like to move away from traditional "silo-based" approaches and move into a more effective and efficient enterprise-wide, holistic approach to managing risk and assurance, would also benefit. Lastly, organizations that want to respond to emerging Basel Committee requirements for banks and other types of financial service organizations related to operational risk would benefit from corporate risk management tools.