Sarbanes-Oxley Tool Launched
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A new Sarbanes-Oxley compliance tool has been launched by software supplier Hyperion. Central is matching internal controls data with financial data. Hyperion Compliance Management Dashboard as the new tool is called, is designed to give finance directors a clear view of the of all potential risks and statuses relating to compliance. Accuracy and confidence in the financial reports is a side benefit. The first deadline for complying with Sarbanes-Oxley has passed for most companies. They will have been through the mill with Section 404 of the act. 404 requires executives and auditors to confirm the internal controls involved with producing the accounts, not only exist but are effective. “Now that most companies have passed the first critical deadline for Section 404 of Sarbanes-Oxley compliance, progressive organizations are focused on ensuring sustainable compliance and achieving value from compliance investments,” said Kathleen Wilhide, from IDC. “Hyperion's Compliance Management Dashboard integrates the monitoring of ongoing compliance controls with financial reporting and analysis, providing the basis for good governance as well as business performance management.” she continued. Sarbanes-Oxley is not the only regulatory hurdle the dashboard hopes to help companies clear. The tool can be turned to compliance with International Financial Reporting Standards (IFRS). Industry and business standards can be customised to.
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