Spreadsheets are like an old friend—always there when you need them. They’re familiar. Comfortable. But if you’re still using them for SOX you might soon find out that spreadsheets can be something else: dangerous. Learn what can make spreadsheets problematic—and why software is often a better option.

1. X
Spreadsheets can seem alluring. They’re everywhere—usually bundled with
enterprise-wide software suites—and familiar. (In other words, comfortable.) But
using spreadsheets for SOX compliance is like walking on thin ice: you’re fine…
until all of a sudden you’re not. Here’s why...
If you’re hearing cracks in the ice beneath your feet, look to
dedicated GRC software like Resolver for a lifeline.
Resolver is the risk backbone for over 1000 of the world’s largest organizations. Our cloud software takes the uncertainty from Decision-Making, Internal
Control, Internal Audit, Compliance Management, Enterprise Risk Management and Incident Management in more than 100 countries around the world.
Possibility of widespread errors and
mistakes makes it difficult to feel
confident in compliance data
Hidden costs in time and wasted
effort are rarely examined
Link between risks and controls is
difficult to establish—
and harder to track
Process owners and sponsors are
hard to designate; accountability for
testing is difficult to enforce
No proof that compliance process
has management oversight
Visibility into the
“whole system” is limited
Low-value controls appear just as
important as other, more critical ones
Encourage a focus on the
quarterly “task at hand”
Easy to assess IT general controls;
version and change control is
simple
Value of time saved by internal staff,
contractors and external auditors more
than offsets software licensing fees
Relationship between objectives,
risks, controls and results is clear
and easy to track
Accountability and ownership can be
easily assigned across the organization
Executives can easily monitor
compliance and report in 302 filings
Enables top-down risk-based approach
to eliminate unnecessary controls
Improved visibility and insight into
controls, processes, accounts and
more
Help shift the organization from a
quarterly focus to a real-time mindset—
and discourage the Q4 “race to the finish”
PROSof software
consof spreadsheets
SPREADSHEETS
vs SOFTWARE
for SOX compliance
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