Efficient Documentation Review

With the ability to document processes, subprocesses, risks and controls using a top-down approach, more than one person can work on documentation at the same time. Director SOX enables individual sections of the documentation to be assigned to different employees for review, comment and revision. This capability reduces the complexity and cost of future compliance.

Effective Control Testing

Section 404 compliance requires that the bank perform periodic audits of their controls to confirm continued effectiveness. Director SOX helps, by enabling documentation of the audit steps. While documenting these steps, supporting documents can be attached to that audit step. In addition, management is provided with an overview of the audit’s status. Once a bank has documented its controls, Director SOX identifies the processes that have weak internal controls or are manually intensive. It also enables automation of processes to strengthen related internal controls.

Report & Documentation Generation

Preparing for an audit can be a stressful event, but Director SOX helps by enabling your organization to generate status reports, executive summaries and customized reports. Unlike spreadsheets and word files that are difficult to review and cannot print reports, Director SOX can generate and access reports specific to your demands. Additionally, a streamlined import process will assist you in leveraging existing Excel® files and word processing records.

Flexible Usability

Point-and-click configurability means easy implementation. Unlike most Sarbanes-Oxley tools on the market, where projects must be tailored to meet the technology’s format, Director SOX can accommodate your organization’s own views of how internal controls should be documented and tested. Virtually every component can be modified, added or removed to create the perfect solution. Additionally, with a few simple modifications, Director SOX can be used for other compliance projects besides Section 404. This puts another powerful tool at your disposal to assist with any compliance-based project.

Management of Control Gaps

“Control gaps” are holes in a control process, and managing them can be a daunting task. With Director SOX, once a control process is tested and the control gaps identified, a solid framework enables those gaps to be tracked, managed, assigned for correction, mitigated and reviewed. Effective management helps you stay up-to-date on the progress of closing gaps in all documented processes.

For more on Director SOX, contact
Information Technology, Inc. 402.421.4207.