Sarbanes Oxley Solution
Zequel Technologies, Inc., a leading provider of Policy Management
Software is please to announce the release of DynamicPolicy SOX Solution™
to help companies to achieve Corporate Governance and Compliance Management.
DynamicPolicy SOX Solution™ is a Web-based enterprise application
that is scalable, flexible and easy to use framework that supports companies'
corporate governance actions and solve both the specifics of Sections
404 and 302 of the Sarbanes-Oxley Act, as well as ongoing modifications
and additions proposed by the SEC and other regulatory organizations
(COSO).
What is the problem?
The Sarbanes-Oxley Act was passed in 2002 in response to publicly problem
with management and a lack of adequate supervision by Boards of Directors.
The corporate governance scandals of 2001 and 2002 placed a spotlight
on the quality of internal controls at public corporations. The Sarbanes-Oxley
Act was designed to help ensure the accountability of company management
and directors, primarily for the protection of external investors in
public companies. Sarbanes-Oxley requires management certification of
financial reports and specifies substantial penalties for non-compliance.
The Act does away with "to the best of my knowledge" sign-offs
by management by requiring the Board to have reviewed the processes
annually in accordance with Section 404 and assured that adequate internal
controls are in place. Sarbanes-Oxley means that companies must have
effective internal control systems that can be easily and objectively
presented and evaluated.
The Sarbanes-Oxley Act of 2002 is the most sweeping legislation affecting
corporate governance, disclosure and financial accounting in over a
generation. Specifically, Sections 302 and 404 require that CEO's, CFO's
and independent auditors and committees:
- Certify the accuracy of financial statements and disclosures
- Indicate in each periodic report whether or not there were significant
changes in internal controls or related factors since their most recent
evaluation and disclose all deficiencies in the design or operation
of internal controls
- Provide auditor's attestation to, and report on, management's assessment
of the internal controls and procedures for financial reporting
- Report that controls and procedures for financial reporting and disclosure
have been evaluated for effectiveness
What is DynamicPolicy SOX Solution™?
DynamicPolicy SOX Solution™ is an Intranet Solution that allows
companies easily create and document Internal Controls that empowers
CEO's, CFO's and management to enforce internal controls as defined
by the Government by supporting:
- Policies and Procedures Documentation
- Exception Management
- Reporting and Monitoring of compliance
- COSO-based Process and Controls Repository
What are the Benefits provided by DynamicPolicy SOX Solution™?
Some of the benefits you obtain working with our solution:
- Expedites the policy and procedures documentations with sample templates
and wizards with full change control and audit trails to ensure enterprise-wide
quality control.
- Deploys policies and controls automatically publish them to your Intranet
and provide immediate access to read, add, update SOX compliance data.
- Version control over the documents.
- Determines the status of policy compliance in your organization and
protect from potential legal liability.
Easy to implement surveys.
- Search and retrieve SOX compliance data.
- Demonstrates to upper management or auditors the overall compliance
and acceptance of policies and procedures within the organization.
- Saves your organization financial resources by drastically reducing
outsourced consulting hours, minimizing manual processes such as review,
approval and delivery of policies and reducing printing and binding
costs related to policy manuals.
- Automatic and manual e-mail notifications.
- Helps your organization comply with SEC and other regulatory bodies.
- DynamicPolicy SOX Solution™ is built on the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) framework and runs on
top of DynamicServer That combines document and content management,
collaborative and automated workflows, publishing, training and learning.
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