Internal Controls
Benefits
- Collaborate in a controlled environment
- Promote standard operating procedures
- Facilitate effective risk assessment
- Gather and disseminate relevant information
- Effectively monitor performance
A reactionary approach to compliance with Sarbanes Oxley and similar regulations is typically characterized by a flood of spreadsheets and documents—and high costs, expenses that typically need to be repeated every year. Moving to a sustainable, long-term solution requires an enterprise level, collaborative, and coordinated system for managing all of this content. Livelink ECM - Internal Controls builds on the proven Livelink ECM foundation, which enables organizations to define, secure, control, and automate the process of creating, storing, and retaining electronic information.
Livelink ECM - Internal Controls helps companies track and store the necessary evidence to show that their policies, procedures, and processes are being followed and that real business risks are truly being mitigated by the company’s defined internal controls. Livelink ECM -Internal Controls helps companies specifically comply with sections 404 and 302 of the Sarbanes Oxley Act, and similar regulation around the world.
Features
Ensure a framework for sustainable good governance
Document your complete Internal Controls hierarchy and your Organization Unit structures independently, providing a flexible approach that allows your system to grow and change as your business grows and changes.
Scope, Assess, and Test internal controls
Ensure that sufficient accounts, processes, and controls are properly documented and tested.
Manage deficiencies to ensure effective remediation
Manage the lifecycle of issues, gaps, and deficiencies, including creation, assignment, and remediation.
Monitor progress every step of the way
Ensure visibility around progress toward scope coverage with granular reporting and comprehensive auditing of control objects and activities.
