How to reach SOX Compliance       The Alpro case            Bart Van Hevel, AlproYour logo            Chris Walravens, Exp...
Agenda                         Your logo•   Key facts about Alpro•   What is SOx•   Key facts about Expertum•   Authorizat...
Key Facts About Alpro                                           Your logo•    Alpro founded in 1980 and part of Dean Foods...
Alpro Soya Brand   Your logo
Provamel Brand   Your logo
Gradual Development Of New     Categories                                          Your logoDrinks          Desserts      ...
Alpro, A Division Of Dean Foods                                    Your logoNational chilled DSD      US leader in       N...
4 Complementary Plants                        Your logoUKKettering (Birmingham)                           The Netherlands ...
What is S0x?                                                                                                        Your l...
Our Requirement…                                                                Your logo                                 ...
Our Requirement…                                                                 Your logo                                ...
Expertum                                                                    Your logo• Our Mission   • Exceed client expec...
Authorizations @ Alpro                                                 Your logo• Position based security    • Use of the ...
Authorization Issues                                                                 Your logo                            ...
Authorization Issues                      Your logo• Critical functionality (10)    • Maintain accounting periods    • Ass...
Project Approach                                                                                                          ...
Success Factors                                                        Your logo•   Very much business driven     • C-leve...
Benefits for Alpro                                          Your logo• Alpro Comm VA SOx compliant on December 31st, 2010:...
Thank you!   Your logo
Upcoming SlideShare
Loading in...5
×

How to reach SOX Compliance - The Alpro case

381

Published on

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
381
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
6
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

How to reach SOX Compliance - The Alpro case

  1. 1. How to reach SOX Compliance The Alpro case Bart Van Hevel, AlproYour logo Chris Walravens, Expertum Lamot, Mechelen October 12, 2011
  2. 2. Agenda Your logo• Key facts about Alpro• What is SOx• Key facts about Expertum• Authorizations @ Alpro• Authorization Issues• Project approach• Success factors• Benefits for Alpro
  3. 3. Key Facts About Alpro Your logo• Alpro founded in 1980 and part of Dean Foods since mid 2009• Grown to € ~260 million in revenues in 2010• Clear European market leader in non-dairy soy-based products• 2 power brands: Alpro soya and Provamel• 6 product categories• 3 channels• 3 wholly-owned commercial organisations in NL, UK and GE and more than 30 commercial partnerships in all other primary European markets• 4 plants in BE, FR, UK and NL• ~800 employees
  4. 4. Alpro Soya Brand Your logo
  5. 5. Provamel Brand Your logo
  6. 6. Gradual Development Of New Categories Your logoDrinks Desserts YofuCream Meat-free Margarine
  7. 7. Alpro, A Division Of Dean Foods Your logoNational chilled DSD US leader in National premium European leaderand plant footprint national UHT health & welness in branded soy private label dairy brands US EU
  8. 8. 4 Complementary Plants Your logoUKKettering (Birmingham) The Netherlands Landgraaf (Maastricht)Belgium FranceWevelgem (Kortrijk) Issenheim (Colmar)
  9. 9. What is S0x? Your logoUS Sarbanes-Oxley Act of 2002 commonly called Sarbanes-Oxley, or SOx, is a United States federal law enacted on July 30, 2002 in response to a number of major corporate and accounting scandals including those affecting Enron, WorldCom, … Applicable to all companies listed on New York Stock Exchange• Section 302:  The CEO/CFO Dean Foods Must Certify Quarterly and Annually that : • The SEC (Securities & Exchange Commission) report has been reviewed by the CEO/CFO • The report does not contain any misleading and/or untrue statements • Significant deficiencies and material weaknesses in internal control have been disclosed to the Audit Committee and auditors, as well as any fraud (material or not) involving anyone with a significant role in internal control • Material weaknesses must be disclosed in the annual report to shareholders  Alpro needs to install a sub-certification process to Dean Foods CEO / CFO• Section 404:  Defines the rules for internal control and financial reporting • Alpro management must assess effectiveness of internal control structure and procedures for financial reporting
  10. 10. Our Requirement… Your logo Company Level Controls Business Processes Reporting Processes InventoryProcure to Pay Financial StatementsOrder to Cash … IT General Controls “Identify, implement and formalize adequate business & IT controls within Alpro Comm VA, for core processes that have a material impact on the financial statements, operating on December 31st, 2010”
  11. 11. Our Requirement… Your logo Company Level Controls Business Processes Reporting Processes InventoryProcure to Pay Financial StatementsOrder to Cash … IT General Controls Business & IT controls in order to cover key risks in a process, resulting in: Manual, signed off reports / documents detective control Configuration controls (SAP – customizing) preventive control Access restriction / Segregation of Duty controls preventive control
  12. 12. Expertum Your logo• Our Mission • Exceed client expectations by providing top-quality expertise • Provide our people a safe environment for personal and professional growth• Facts • Founded in April 2006 by 2 ex-SAP Belux employees • Team of +50 SAP Experts and Project Managers • Highly skilled and experienced SAP consultants in all SAP areas, combined with a• Partnerships For more info, visit our new website : www.expertum.net
  13. 13. Authorizations @ Alpro Your logo• Position based security • Use of the HR organizational structure • For role assignments• 2-layered concept • Composite roles for positions or functions • Single & derived roles for functionality (at sub-process level)• Starting point of the SOx authorizations project • Strong conceptual basis • Prerequisite for a smooth and successful compliance project
  14. 14. Authorization Issues Your logo Company Level Controls Business Processes Reporting Processes InventoryProcure to Pay Financial StatementsOrder to Cash IT General Controls Critical functionality Segregation of Duties Basis Component
  15. 15. Authorization Issues Your logo• Critical functionality (10) • Maintain accounting periods • Asset retirement / scrapping • Vendor master data• Segregation of Duties (7) • Inventory count & post differences • Price conditions & Sales orders • Vendor master data & invoices• Basis Component (10) • User & role administration • Transport requests • Debugging
  16. 16. Project Approach Your logo 3 Months - 50 Mandays Scope & User list Root cause Solution & Solution Implement Approval Final audit Pre-audit review analysis Impact approval & Test & Go-live• Processes & • For each issue • Identify the • Propose • Verification of • Technical SAP • Final approval • Audit bylegal entities in determine the (combination of) possible proposed authorizations of the external partnerscope list of roles causing the solution(s) for solution with knowledge implemented (un)authorized unwanted access each issue business users essential solution and • Final SOx audit• Risk users / roles adequacy of by externalassessment & • Always several • Approval of • Testing the testing before auditordefinition of options possible: solution solution both go-livecontrols positive and • Final check to -User assignment • Business negative • Transporting see if the• Identification of -Composite role approval is the changes into businessissues to be -Tcode in single essential, especi • Documentation production processes areremediated role ally when essential and/or changing under control -Auth. object changes in day- because of SOx the user values to-day requirements assignments organisation is • Impact analysis changed on other users is essential for not disrupting business activities
  17. 17. Success Factors Your logo• Very much business driven • C-level commitment • High visibility in the organization• Dedicated team • Divisional Controller (on business side) • IT Manager (on IT side) • Authorizations consultant (expert knowledge) • Project leader (Business Process Manager)• Smooth and fast decisions• Ability to translate complex authorisation terminology into business language• Efficient assessment of impact, resulting in no business disrupting actions
  18. 18. Benefits for Alpro Your logo• Alpro Comm VA SOx compliant on December 31st, 2010: 0 deficiencies, an exceptional result !• Provides Alpro management extra comfort on the main business processes and its impact on the financial reporting
  19. 19. Thank you! Your logo
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×