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MetricStream SOX Compliance Management built on the MetricStream Platform, is highly configurable to meet specific SOX compliance requirements. The product provides a responsive and personalized interface designed for SOX compliance professionals and is mobile ready to support control testing anywhere, anytime. The product’s "multi-dimensional organization structure" functionality enables organizations to model SOX compliance programs based on complex organizational setups. The product provides the management with comprehensive compliance insights and intelligence, enabling better business decisions.

SOX Compliance Management

SOX Compliance Management

Measure Your Program Outcomes

 
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  • 60%
  • reduction in the time taken for control testing and SOX certifications

 
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  • 0%
  • errors in SOX certifications

 

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Source: Based on MetricStream customer responses and GRC Journey Business Value Calculator

Ensure Compliance with US SOX in an Efficient and Sustainable Manner

MetricStream SOX Compliance Management software, built on the MetricStream Platform, is highly configurable to meet specific SOX compliance requirements. The product software provides a responsive and personalized interface designed for SOX compliance professionals and is mobile ready to support control testing anywhere, anytime. The product’s Multi-Dimensional Organization Structure (MDOS) functionality enables organizations to model SOX compliance programs based on complex organizational setups. The product provides the management with comprehensive compliance insights and intelligence, enabling better business decisions.

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Why MetricStream SOX Compliance Management Software

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For each business unit, create a centralized SOX compliance framework that includes processes, risks, controls, financial accounts, financial statement assertions, evidence, questionnaires, and tests, along with the associated owners, reviewers, and approvers. Organize this data into appropriate hierarchies and map the relationships between the various data elements.

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Plan and schedule risk assessments, define their scope, and assign them to owners. Assess risks based on impact and likelihood, rate control effectiveness, and document the inherent and residual risk rating. Leverage the Risk and Control Matrix for a comprehensive view of the SOX compliance program, including risks, controls, control effectiveness, test results, assertions, and frequency of control testing.

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Plan and design control tests, while also defining test owners, schedules, scope, and frequency. Search and select controls for testing and assign them to control owners. Leverage built-in standard templates to conduct the control tests. Store these documents centrally, and provide access to them through secure, role-based landing pages.

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Create plans, questionnaires, and schedules for certifications based on SOX Section 302 and 404. View a SOX 302 sub-certification report which provides management teams the assurance that subordinate levels have performed their internal control duties.

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Accelerate remediation action plans through automated workflows, notifications, and reporting processes. Review issues marked for disclosure and channel them to the disclosure committee for their recommendations and inclusion in regulatory filings.

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Monitor the status of control design, process ownership, evaluation plans, test results, and other factors on graphical charts and reports. Drill down to view the data at finer levels of detail. Leverage key control metric cards to track the number and test status of controls.

Business Benefits With MetricStream SOX Compliance Management
  • Gain confidence in SOX compliance through a unified approach to risk and control data management across financial processes
  • Reduce compliance efforts and costs by rationalizing controls using a risk-based approach
  • Increase investor confidence by providing accurate, complete, and reliable data on control testing, certifications, and issue resolution
  • Strengthen trust and credibility with stakeholders through assured compliance and timely reporting
BUSINESS VALUE CALCULATOR

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Frequently Asked Questions

Yes. MetricStream SOX compliance supports controls to be defined and managed under various standards and frameworks including COSO, COBIT, and ISO etc. It supports common controls frameworks along with regulatory and other information such as coverage period, testing frequency, geography, products etc.

Yes, the MetricStream SOX Compliance product supports marking accounts as significant and links them to relevant accounting processes. The product also supports recording risks related to these significant accounts and related controls. It provides detailed and flexible centralized libraries for risk, controls, processes, and other entities. The underlying relational data model facilitates one-to-one, one-to-many, many-to-one, many-to-many relationships among these entities. Also, it enables users to view these relationships in the listing screen and reports.

Yes, the MetricStream SOX Compliance software supports identification of the risks within the sub-processes/sub-cycles and performing risk assessments to assess the nature, timing, and extent of the testing that must be performed in each area. It supports determining the significant risk factors that need to be evaluated for each sub-process and sub-cycles.

Risk Assessments can be performed based on configurable methodologies and aggregate algorithms. Comprehensive reports and dashboards provide insights on risk scores, top risks, assessment status etc.

You can plan and design control tests, while also defining test owners, schedules, scope, and frequency. You can also search and select controls for testing based on various parameters and assign them to control owners or testers. Built-in standard templates can be leveraged to conduct control tests. Select control samples, and record the results of testing, including the operating and design effectiveness of controls. Attach supporting documents and evidence of compliance. Store these documents centrally, and provide access to them through secure, role-based landing pages.

With MetricStream SOX Compliance, you can create plans, questionnaires, and schedules for certifications based on SOX Section 302 and 404. You can provide management teams the assurance that subordinate levels have performed their internal control duties with a SOX 302 sub-certification report.

You can visit our Insight section to explore our customer stories, webinars, thought-leadership, and more. To request a personalized product tour, click here.

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