Corey Carpenter

Manage your Financial Compliance Program in RSA Archer

Blog Post created by Corey Carpenter Employee on Jun 4, 2020

Financial controls compliance programs are an essential part of any publicly traded company.  The Sarbanes-Oxley Act ("SOX") of 2002 set requirements for all US public companies in order to curb fraud in corporate financial reporting.  This law provides requirements to help ensure that financial information is certified and accurately reported, reducing opportunities for corporate fraud and setting severe penalties for companies that do not meet the requirements.  Many countries around the world have also adopted similar measures that mirror or closely follow SOX requirements.  

 

In RSA Archer 6.8 Release, we introduced the RSA Archer Financial Controls Monitoring use case to help customers manage their financial compliance programs in RSA Archer.  While some of the controls, processes and testing approaches that are part of financial compliance are shared with other programs, there are specific elements that are necessary to meet the guidelines of financial compliance regulations. The Financial Controls Monitoring use case is a refresh of the former RSA Archer Controls Monitoring Program Management use case.   The updates allow companies to perform the program-specific actions for a Financial Compliance program in tandem with other compliance initiatives.  This supports the common set of controls and "test-once/apply-many" approach across multiple compliance programs built on the Controls Assurance Program Management architecture implemented within RSA Archer. 

 

In addition to these architectural changes the RSA Archer Financial Controls Monitoring use case includes new applications/questionnaires and leverages features and functionality of the RSA Archer Platform that were not previously available in the former Controls Monitoring Program Management.  Capabilities of Financial Controls Monitoring have been expanded to allow for a full lifecycle of documenting, testing and updating Process Narratives, tracking the Provided/Prepared By Client ("PBC") requests and improved scoping to manage sending/communicating information with a company's External Auditors.

 

 

RSA Archer Financial Controls Monitoring provides:

  • Management of end-to-end financial compliance program for regulations such as Sarbanes-Oxley (SOX)
  • Management of data requested and provided to external auditors
  • Tracking for changes and approvals of any modifications to key processes, controls and evidence utilized as part of a financial compliance program
  • Streamlining financial compliance obligations alongside other compliance programs

 

Interested in learning more about RSA Archer Financial Controls Monitoring? Join us for a Free Friday Tech Huddle on Friday, June 5, 2020 for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller - or visit us at www.rsa.com.

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