This document discusses opportunities to transform a company's Sarbanes-Oxley (SOX) compliance function for competitive advantage. It identifies four actions: 1) automating manual controls to significantly reduce SOX costs and resource burden, 2) offshoring SOX functions for lower costs, 3) leveraging existing IT investments to improve SOX processes, and 4) innovating SOX execution strategically to enhance competitive positioning. A survey found that while most firms treat SOX as a compliance exercise, some have transformed their functions to drive value through automation, cost efficiencies, and strategic innovation around SOX practices.
The document discusses a survey of 225 global executives about their Sarbanes-Oxley (SOX) compliance functions. While most organizations treat SOX compliance as a necessary burden, some have evolved to view it as an opportunity for innovation, automation, and competitive advantage. These forward-thinking companies see correlations between SOX practices and adding value to the business. The document outlines four actions for empowering SOX functions: 1) automating controls, 2) offshoring lower-cost resources, 3) leveraging IT investments, and 4) innovating strategies.
Retailers remain laser-focused on improving the customer experience in every part of the store. They are improving the checkout experience, hiring more store associates and empowering managers with mobile tools. The recently released RSR store study confirms this and other trends, such as:
• 52% of retailers see high value in modern POS hardware and software
• 55% see high value in employee selling tools on the sales floor
• 43% see high value in personal scanners and self-service sales
During this webinar, Paula Rosenblum from RSR will share these and other findings from the store study and discuss how retailers can respond in order to achieve better in-store results.
Part two of the presentation will feature a deep dive into how the checkout experience affects overall store performance, honing in on all aspects of checkout, including POS, self-checkout, the queue process, impulse buying, couponing and tendering. Each aspect of the checkout experience contributes to a successful sale. If any part of the checkout experience is negative, 50% or more shoppers may opt to shop online instead.
Business and IT leaders know well that education and
training are essential to the success of technologybased
solutions. Product Lifecycle Management (PLM)
is no exception. If managers and end users don’t learn
and adopt new ways of working with PLM solutions, the
best software in the world is of little value.
All too often, however, companies short-change investments in programs
to ensure adoption of their new solutions...
Business in the Community Ireland CEO Survey October 2012Amarach Research
A survey of 100 Irish CEOs/Managing Directors from Ireland's top 1,000 companies.
More details - and a handy infographic - available at the Business in the Community Ireland website:
http://www.bitc.ie/2012/10/ceo-survey-shows-responsible-business-practice-positive-impact-botton-line/
Protractor end-to-end testing framework for angular jscodeandyou forums
Protractor is an end-to-end test framework for AngularJS applications that runs tests against a real browser, interacting with the application as a user would. It is built on WebDriverJS and uses native events and browser-specific drivers to test asynchronous behavior and support for AngularJS. Protractor tests can run in any browser and interact directly with page elements rather than testing JavaScript code.
This document discusses testing Backbone applications with Jasmine. It provides examples of how to test models, views, user interactions, and more. Key points covered include:
- Using Behavior Driven Development (BDD) style tests with Jasmine's describe and it blocks to test app behaviors.
- Spying on and mocking functions like jQuery's ajax call to test view logic without external dependencies.
- Testing models by calling methods and checking property values change as expected.
- Testing views by triggering events and checking models and DOM update appropriately.
- The jasmine-jquery plugin allows testing user interactions like clicks directly.
The document discusses a survey of 225 global executives about their Sarbanes-Oxley (SOX) compliance functions. While most organizations treat SOX compliance as a necessary burden, some have evolved to view it as an opportunity for innovation, automation, and competitive advantage. These forward-thinking companies see correlations between SOX practices and adding value to the business. The document outlines four actions for empowering SOX functions: 1) automating controls, 2) offshoring lower-cost resources, 3) leveraging IT investments, and 4) innovating strategies.
Retailers remain laser-focused on improving the customer experience in every part of the store. They are improving the checkout experience, hiring more store associates and empowering managers with mobile tools. The recently released RSR store study confirms this and other trends, such as:
• 52% of retailers see high value in modern POS hardware and software
• 55% see high value in employee selling tools on the sales floor
• 43% see high value in personal scanners and self-service sales
During this webinar, Paula Rosenblum from RSR will share these and other findings from the store study and discuss how retailers can respond in order to achieve better in-store results.
Part two of the presentation will feature a deep dive into how the checkout experience affects overall store performance, honing in on all aspects of checkout, including POS, self-checkout, the queue process, impulse buying, couponing and tendering. Each aspect of the checkout experience contributes to a successful sale. If any part of the checkout experience is negative, 50% or more shoppers may opt to shop online instead.
Business and IT leaders know well that education and
training are essential to the success of technologybased
solutions. Product Lifecycle Management (PLM)
is no exception. If managers and end users don’t learn
and adopt new ways of working with PLM solutions, the
best software in the world is of little value.
All too often, however, companies short-change investments in programs
to ensure adoption of their new solutions...
Business in the Community Ireland CEO Survey October 2012Amarach Research
A survey of 100 Irish CEOs/Managing Directors from Ireland's top 1,000 companies.
More details - and a handy infographic - available at the Business in the Community Ireland website:
http://www.bitc.ie/2012/10/ceo-survey-shows-responsible-business-practice-positive-impact-botton-line/
Protractor end-to-end testing framework for angular jscodeandyou forums
Protractor is an end-to-end test framework for AngularJS applications that runs tests against a real browser, interacting with the application as a user would. It is built on WebDriverJS and uses native events and browser-specific drivers to test asynchronous behavior and support for AngularJS. Protractor tests can run in any browser and interact directly with page elements rather than testing JavaScript code.
This document discusses testing Backbone applications with Jasmine. It provides examples of how to test models, views, user interactions, and more. Key points covered include:
- Using Behavior Driven Development (BDD) style tests with Jasmine's describe and it blocks to test app behaviors.
- Spying on and mocking functions like jQuery's ajax call to test view logic without external dependencies.
- Testing models by calling methods and checking property values change as expected.
- Testing views by triggering events and checking models and DOM update appropriately.
- The jasmine-jquery plugin allows testing user interactions like clicks directly.
This document discusses automated testing for AngularJS applications. It introduces unit testing and end-to-end testing and the tools needed for testing AngularJS apps, including Jasmine, Protractor, and Selenium. Protractor examples are provided to demonstrate how to write end-to-end tests. The document also covers running tests in a headless setup to save resources and discusses some limitations of testing, such as not being able to control operating system windows and events. It concludes by providing contact information for the author and a note about job opportunities.
The best reason for writing tests is to automate your testing. Without tests, you'll likely be testing manually. This manual testing will take longer and longer as your codebase grows. In this session, you’ll learn how to test an Angular 2 application. You'll learn how to use Jasmine to unit testing components and Protractor for integration testing. We’ll also take a look at code coverage options and explore continuous integration tools.
Topics in intermediate/early-advaned Jasmine testing for client-side JavaScript web applications.
Source code, test specs, and harnesses available here:
https://github.com/jbellsey/dbc-jasmine
The sweet smell of jasmine for testing JavaScriptEmma Armstrong
The document discusses testing JavaScript code using the Jasmine testing framework. It provides an overview of Jasmine, including how to write Jasmine tests using suites, specs, matchers and spies. It also covers how to set up before and after each/all blocks, create custom matchers, and get the latest version of Jasmine from GitHub. Example code for using Jasmine is available at a provided URL.
Heard about Automated Acceptance Testing but not sure what to make of it. Check out this brief intro and demo of an automated acceptance test using Selenium Webdriver, Jasmine and Protractor.
Carmen Popoviciu - Protractor styleguide | Codemotion Milan 2015Codemotion
In this talk, I would like to speak about best practices for writing e2e tests with Protractor. The styleguide that I will introduce, is a joint initiative of mine and @andresdom from Google. Some of the subjects that will be covered include why e2e testing is important, what e2e tests should cover, naming conventions, selector strategies, page objects, helper objects and performance considerations. That and lots of smileys obviously, because we wanted to smiley all the things ...right? ¯\_(ツ)_/¯
Better End-to-End Testing with Page Objects Model using ProtractorKasun Kodagoda
This presentation focuses on implementing Page Objects Model using Protractor for AngularJS apps for more maintainable, reusable and flexible end-to-end testing for your project. The presentations was done at 99X Technology as a Tech Talk session done by Team Finale.
The document discusses Protractor, an end-to-end test framework for AngularJS applications. It provides an overview of Protractor, how it differs from Selenium WebDriver, how to install and configure it, how to write tests using the Page Object Model pattern, and how to structure tests into suites and specs. Key aspects covered include Protractor's Angular-specific features, use of Jasmine, and capabilities like multi-browser testing.
This document discusses end-to-end testing with Protractor.js. It introduces Protractor and describes how it can be used to test Angular applications directly within browsers using WebDriverJS. It also discusses best practices like using page object patterns to organize tests and hide implementation details. Key aspects covered include setting up tests, writing maintainable page objects, and decomposing pages into reusable sections and fields.
Protractor is a framework for end-to-end testing of AngularJS applications. It interacts with the application and simulates user actions like clicking and entering text. Protractor uses Angular-specific locators for elements and waits for Angular-specific conditions like promises to resolve. It generates test reports using Jasmine and supports continuous integration with tools like Sauce Labs.
Advanced Jasmine - Front-End JavaScript Unit TestingLars Thorup
This document discusses advanced techniques for front-end JavaScript unit testing using Jasmine, including mocking methods, constructors, timers, and AJX requests to test code in isolation without dependencies and speed up tests. It also covers spying on events, simulating CSS transitions, using custom matchers, structuring test code, and browser-specific testing. The presenter is Lars Thorup, a software developer and coach who founded ZeaLake and teaches agile and automated testing.
The document discusses best practices, tips, performance, and debugging strategies for Protractor, an end-to-end testing framework for AngularJS applications. It addresses common problems like unknown window sizes, fragile tests due to small HTML changes, and long test run times. Solutions include setting the window size before tests, using page objects to abstract the HTML, enabling sharding to run tests in parallel, and integrating with IDEs for debugging. The tips are from Sergey Bolshchikov, a developer advocate and creator of resources for front-end developers.
The document discusses Sarbanes-Oxley (SOX) compliance and the role of IT in designing and implementing internal controls over financial reporting. It defines key terms like COSO, internal controls, and the five components of an internal control system. It then outlines an IT compliance roadmap and describes how to document entity-level controls, IT policies and procedures, control narratives, flowcharts, and completed questionnaires.
Computer hardware devices include webcams, scanners, mice, speakers, trackballs, and light pens. Webcams connect via USB or network and are used for video calls and conferencing. Scanners optically scan images and documents into digital formats. Mice are pointing devices that detect motion to move a cursor. Speakers have internal amplifiers and audio jacks. Trackballs contain ball and sensors to detect rotation for cursor movement. Light pens allow pointing directly on CRT displays.
IBM Rational solution provides capabilities for effective Application Lifecycle Management (ALM). ALM helps coordinate people, processes, and tools across requirements, development, and quality management. It provides a unified platform to include open source, packaged, custom applications, and other commercial solutions. Effective ALM reduces high costs, poor quality, project risk, and inefficiency of fragmented software development. The IBM Rational ALM solutions support organizations in starting their ALM journey based on their unique needs.
Financial Planning Best Practices and IBM Cognos TM1 DemonstrationSenturus
Learn about best practices for financial planning and analysis (FP&A) solutions that are independent of software platform. View the video recording and download this deck: http://www.senturus.com/resources/ibm-cognos-tm1-demo-and-financial-planning-best-practices/.
Senturus experts demonstrate use of IBM Cognos TM1, a high-performance enterprise planning software for budgeting, forecasting and analysis.
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources.
DEJ's AIOps research study titled - Strategies of Top Performing Organizations in Deploying AIOps is based on insights from 1,100+ organizations (721 of them using AIOps capabilities).
The 7th Annual European Manufacturing Strategies Summit 2011 will take place from 17-19 October 2011 in Düsseldorf, Germany. The summit will bring together over 300 senior manufacturing experts to discuss strengthening manufacturing operations, capitalizing on growth markets, and improving operational excellence across global operations. Topics will include developing strategies for continuous improvement, implementing best practices and lean management systems, and extending operational excellence programs globally. There will be keynote speakers, workshops, and opportunities for business networking.
DEJ's AIOps research study titled - Strategies of Top Performing Organizations in Deploying AIOps is based on insights from 1,100+ organizations (721 of them using AIOps capabilities).
This document discusses automated testing for AngularJS applications. It introduces unit testing and end-to-end testing and the tools needed for testing AngularJS apps, including Jasmine, Protractor, and Selenium. Protractor examples are provided to demonstrate how to write end-to-end tests. The document also covers running tests in a headless setup to save resources and discusses some limitations of testing, such as not being able to control operating system windows and events. It concludes by providing contact information for the author and a note about job opportunities.
The best reason for writing tests is to automate your testing. Without tests, you'll likely be testing manually. This manual testing will take longer and longer as your codebase grows. In this session, you’ll learn how to test an Angular 2 application. You'll learn how to use Jasmine to unit testing components and Protractor for integration testing. We’ll also take a look at code coverage options and explore continuous integration tools.
Topics in intermediate/early-advaned Jasmine testing for client-side JavaScript web applications.
Source code, test specs, and harnesses available here:
https://github.com/jbellsey/dbc-jasmine
The sweet smell of jasmine for testing JavaScriptEmma Armstrong
The document discusses testing JavaScript code using the Jasmine testing framework. It provides an overview of Jasmine, including how to write Jasmine tests using suites, specs, matchers and spies. It also covers how to set up before and after each/all blocks, create custom matchers, and get the latest version of Jasmine from GitHub. Example code for using Jasmine is available at a provided URL.
Heard about Automated Acceptance Testing but not sure what to make of it. Check out this brief intro and demo of an automated acceptance test using Selenium Webdriver, Jasmine and Protractor.
Carmen Popoviciu - Protractor styleguide | Codemotion Milan 2015Codemotion
In this talk, I would like to speak about best practices for writing e2e tests with Protractor. The styleguide that I will introduce, is a joint initiative of mine and @andresdom from Google. Some of the subjects that will be covered include why e2e testing is important, what e2e tests should cover, naming conventions, selector strategies, page objects, helper objects and performance considerations. That and lots of smileys obviously, because we wanted to smiley all the things ...right? ¯\_(ツ)_/¯
Better End-to-End Testing with Page Objects Model using ProtractorKasun Kodagoda
This presentation focuses on implementing Page Objects Model using Protractor for AngularJS apps for more maintainable, reusable and flexible end-to-end testing for your project. The presentations was done at 99X Technology as a Tech Talk session done by Team Finale.
The document discusses Protractor, an end-to-end test framework for AngularJS applications. It provides an overview of Protractor, how it differs from Selenium WebDriver, how to install and configure it, how to write tests using the Page Object Model pattern, and how to structure tests into suites and specs. Key aspects covered include Protractor's Angular-specific features, use of Jasmine, and capabilities like multi-browser testing.
This document discusses end-to-end testing with Protractor.js. It introduces Protractor and describes how it can be used to test Angular applications directly within browsers using WebDriverJS. It also discusses best practices like using page object patterns to organize tests and hide implementation details. Key aspects covered include setting up tests, writing maintainable page objects, and decomposing pages into reusable sections and fields.
Protractor is a framework for end-to-end testing of AngularJS applications. It interacts with the application and simulates user actions like clicking and entering text. Protractor uses Angular-specific locators for elements and waits for Angular-specific conditions like promises to resolve. It generates test reports using Jasmine and supports continuous integration with tools like Sauce Labs.
Advanced Jasmine - Front-End JavaScript Unit TestingLars Thorup
This document discusses advanced techniques for front-end JavaScript unit testing using Jasmine, including mocking methods, constructors, timers, and AJX requests to test code in isolation without dependencies and speed up tests. It also covers spying on events, simulating CSS transitions, using custom matchers, structuring test code, and browser-specific testing. The presenter is Lars Thorup, a software developer and coach who founded ZeaLake and teaches agile and automated testing.
The document discusses best practices, tips, performance, and debugging strategies for Protractor, an end-to-end testing framework for AngularJS applications. It addresses common problems like unknown window sizes, fragile tests due to small HTML changes, and long test run times. Solutions include setting the window size before tests, using page objects to abstract the HTML, enabling sharding to run tests in parallel, and integrating with IDEs for debugging. The tips are from Sergey Bolshchikov, a developer advocate and creator of resources for front-end developers.
The document discusses Sarbanes-Oxley (SOX) compliance and the role of IT in designing and implementing internal controls over financial reporting. It defines key terms like COSO, internal controls, and the five components of an internal control system. It then outlines an IT compliance roadmap and describes how to document entity-level controls, IT policies and procedures, control narratives, flowcharts, and completed questionnaires.
Computer hardware devices include webcams, scanners, mice, speakers, trackballs, and light pens. Webcams connect via USB or network and are used for video calls and conferencing. Scanners optically scan images and documents into digital formats. Mice are pointing devices that detect motion to move a cursor. Speakers have internal amplifiers and audio jacks. Trackballs contain ball and sensors to detect rotation for cursor movement. Light pens allow pointing directly on CRT displays.
IBM Rational solution provides capabilities for effective Application Lifecycle Management (ALM). ALM helps coordinate people, processes, and tools across requirements, development, and quality management. It provides a unified platform to include open source, packaged, custom applications, and other commercial solutions. Effective ALM reduces high costs, poor quality, project risk, and inefficiency of fragmented software development. The IBM Rational ALM solutions support organizations in starting their ALM journey based on their unique needs.
Financial Planning Best Practices and IBM Cognos TM1 DemonstrationSenturus
Learn about best practices for financial planning and analysis (FP&A) solutions that are independent of software platform. View the video recording and download this deck: http://www.senturus.com/resources/ibm-cognos-tm1-demo-and-financial-planning-best-practices/.
Senturus experts demonstrate use of IBM Cognos TM1, a high-performance enterprise planning software for budgeting, forecasting and analysis.
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources.
DEJ's AIOps research study titled - Strategies of Top Performing Organizations in Deploying AIOps is based on insights from 1,100+ organizations (721 of them using AIOps capabilities).
The 7th Annual European Manufacturing Strategies Summit 2011 will take place from 17-19 October 2011 in Düsseldorf, Germany. The summit will bring together over 300 senior manufacturing experts to discuss strengthening manufacturing operations, capitalizing on growth markets, and improving operational excellence across global operations. Topics will include developing strategies for continuous improvement, implementing best practices and lean management systems, and extending operational excellence programs globally. There will be keynote speakers, workshops, and opportunities for business networking.
DEJ's AIOps research study titled - Strategies of Top Performing Organizations in Deploying AIOps is based on insights from 1,100+ organizations (721 of them using AIOps capabilities).
http://www.hcltech.com/ - More on HCL Technologies
According to industry estimates most of the business critical applications for not only midsize companies, but also many Fortune 500 corporations run on legacy systems, due to the system’s excellent performance and stability. CIO’s and IT managers handling these applications constantly face challenges such as:
High cost of supporting and maintaining the expensive legacy applications.
Inefficient, slow and less productive system compared to competition.
Unmitigated risk associated with lack of skill availability in the resource market.
Risk associated with running business critical application on unsupported platform.
Higher time to market due to large, monolithic, complex and less productive systems.
Integration with newer systems due to incompatibility with new and different technologies.
Sarbanes Oxley & IT Compliance discusses the Sarbanes Oxley Act and its implications for IT departments. The act was passed in 2002 in response to several corporate accounting scandals. It aims to improve financial disclosures and prevent fraud. Compliance is costly for companies and affects departments like finance, IT, and operations. The document recommends establishing cross-functional teams, coordinating IT activities with overall security plans, and seeking technology solutions to reduce compliance costs over time through areas like document management and controls automation.
The document discusses continuous auditing and how technology can enable it. It defines continuous auditing and continuous controls monitoring, noting that continuous auditing uses automated tools to provide assurance on financial and non-financial data, while continuous controls monitoring seeks to assure the effectiveness of internal controls. It discusses how technology can help audit by providing immediate insight into control violations, increasing audit scope and frequency while reducing costs, and enabling fully automated control testing with an integrated risk view. This allows reducing recurrent testing costs while focusing on more valuable areas.
2002’s Sarbanes-Oxley Act (SOX) led to the establishment of SOX 404 programs. Many, though, haven’t been updated since their inception, and don’t account for new developments in technology, business environment, and operating methods. What’s the first step in modernizing your SOX program? A SOX assessment can help you extract new value.
This report on Open Source Software (OSS) and Collaboration Technology Infrastructure is based on the survey of about 100 participants during the 2ndCollaboration Retreat 2011 for select CXOs and Delegates organized by Mithi in September 2011.
This report captures the opinions of IT decision makers in organizations across industries regarding the feasibility and future of OSS and Collaboration IT Infrastructure.
This white paper published in 2003, explains the reason why the arbanes Oxley law was passed, and what are the compliance responsibilities facing IT exucitves
The document discusses balancing agility and efficiency in software delivery. It addresses challenges like managing a multi-source supply chain and optimizing business outcomes. Effective software delivery requires balancing speed and innovation with delivery discipline and management discipline through practices like transparency, governance, and continuous improvement. Global delivery models are also evolving to leverage talent across geographies through networked centers and outcome-based work.
Learn what is driving manufacturers to focus on creating more efficient manufacturing operations and which manufacturers are most successful in achieving these efficiency gains.
Unlocking Your Organization\'s Warranty Management PotentialImranMasood
The document discusses unlocking an organization's warranty management potential. It describes a warranty management capability maturity model developed by IDC Manufacturing Insights with five stages from ad-hoc to optimized. The model evaluates how organizations manage warranty processes, governance, measurement, and technology use. The document outlines focus areas and value creation opportunities at different maturity levels, including improving claims processing efficiency and establishing reverse logistics systems at lower levels and implementing analytics and quality improvement at higher levels.
Managing and Using Information Systems A Strategic Approach –.docxtienboileau
This document provides an overview of digital transformation and business process management. It discusses Sloan Valve, a company that improved its new product development process through adopting an enterprise resource planning (ERP) system. This helped reduce time to market and better filter out poor ideas. The document contrasts a silo perspective with a business process perspective and explains how enterprise systems like ERP can integrate information across the entire company. It also discusses techniques for transforming processes like business process reengineering and total quality management. Finally, it covers additional enterprise systems like customer relationship management and supply chain management systems.
This document discusses current trends in business continuity management. It notes that effective BCM is rising in importance for corporations due to increased complexity, tighter margins for error, and higher expectations for resilience and recovery times after disruptions. Leading trends that companies are adopting to improve their ability to manage emergencies and minimize impacts include implementing an enterprise-wide BCM framework and governance model, integrating business impact analysis and risk assessments, leveraging technologies like cloud computing and virtualization, and fully understanding application interdependencies for recovery.
The document discusses the evolving IT risk landscape for businesses as new technologies like mobile computing, cloud services, and social media break down barriers between work and personal life. This has increased risks around data leakage, third party dependencies, and regulatory compliance. Effective IT risk management is important for businesses to address these challenges and support overall enterprise risk management and business objectives. The document outlines an "IT Risk Universe" framework that identifies 11 key risk categories including security, resilience, data, and strategy alignment that companies can use to assess their IT risk exposure. How much a company relies on defensive IT versus offensive IT impacts the priorities for managing these IT risks.
Building control efficiency: Rationalization, optimization and redesign Vladimir Matviychuk
Increased government reporting requirements have forced those responsible for internal controls to do more. The global recession has required them to do more with less. While regulators press for accountability, investors press for performance. Now, those responsible for internal controls must now take charge by assessing their processes and tools, and execute on efforts to make them as efficient – and effective – as possible. Those able to optimize their controls will be more able to move past compliance toward improved performance and competitive advantage.
This document discusses advanced persistent threats (APTs) and provides recommendations for countering them. It notes that APTs target specific organizations over long periods to steal large amounts of sensitive information undetected. Traditional security methods are ineffective against APTs, which require new detection and response approaches using multiple layers of defense. The document recommends assuming infrastructure infiltration and granting response teams autonomy to investigate incidents. It also stresses hardening web browsers, mobile devices, and cloud applications against emerging attack vectors.
Organizations face increasing privacy challenges in 2011 due to factors such as:
1) Stricter privacy regulations and enforcement globally, with regulators planning expanded reach and tougher penalties.
2) Additional data breach notification requirements being adopted worldwide, requiring organizations to adapt processes.
3) Growing emphasis on governance, risk and compliance initiatives to better integrate privacy monitoring and reduce redundancies.
4) Issues around use of cloud computing and mobile devices, requiring organizations to implement controls over personal data use by third parties.
Overall organizations need robust strategies to proactively address evolving privacy requirements across diverse jurisdictions.
This document discusses the results of Ernst & Young's 2010 Global Information Security Survey. Some key findings include:
- 60% of respondents perceived an increase in risk due to new technologies like social media, cloud computing, and mobile devices.
- 46% planned to increase spending on information security.
- Increased workforce mobility and data leakage were significant challenges for many organizations.
- Many organizations are taking steps to address mobile security risks through policies, encryption, and identity management controls.
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
KALYAN CHART SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART KALYAN CHART
L'indice de performance des ports à conteneurs de l'année 2023SPATPortToamasina
Une évaluation comparable de la performance basée sur le temps d'escale des navires
L'objectif de l'ICPP est d'identifier les domaines d'amélioration qui peuvent en fin de compte bénéficier à toutes les parties concernées, des compagnies maritimes aux gouvernements nationaux en passant par les consommateurs. Il est conçu pour servir de point de référence aux principaux acteurs de l'économie mondiale, notamment les autorités et les opérateurs portuaires, les gouvernements nationaux, les organisations supranationales, les agences de développement, les divers intérêts maritimes et d'autres acteurs publics et privés du commerce, de la logistique et des services de la chaîne d'approvisionnement.
Le développement de l'ICPP repose sur le temps total passé par les porte-conteneurs dans les ports, de la manière expliquée dans les sections suivantes du rapport, et comme dans les itérations précédentes de l'ICPP. Cette quatrième itération utilise des données pour l'année civile complète 2023. Elle poursuit le changement introduit l'année dernière en n'incluant que les ports qui ont eu un minimum de 24 escales valides au cours de la période de 12 mois de l'étude. Le nombre de ports inclus dans l'ICPP 2023 est de 405.
Comme dans les éditions précédentes de l'ICPP, la production du classement fait appel à deux approches méthodologiques différentes : une approche administrative, ou technique, une méthodologie pragmatique reflétant les connaissances et le jugement des experts ; et une approche statistique, utilisant l'analyse factorielle (AF), ou plus précisément la factorisation matricielle. L'utilisation de ces deux approches vise à garantir que le classement des performances des ports à conteneurs reflète le plus fidèlement possible les performances réelles des ports, tout en étant statistiquement robuste.
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1. Thinking outside
the SOX box
Transforming your compliance function
for competitive advantage
2. What if?
What if you could:
• Reduce your SOX compliance costs? You can … by making a bold move and
• Be capable of quicker, more on-point changing how you think about and
decision-making across your entire execute your SOX function.
enterprise?
• Free up existing resources for
strategic initiatives?
3
3. Table of contents
Page 1 Executive summary: Significant opportunity exists
to transform your SOX function
Our survey reveals four actions companies can take now to empower their SOX
functions to create fundamental advantages in their sectors.
Page 2 1. Automating your controls
Replacing manual detect controls with embedded automated controls will make a
significant difference in the hours burned on SOX each year, resulting in an immediate
impact on your cost-containment efforts.
Page 4 2. Offshoring for lower-cost resources
The SOX function procedures are now well codified — it’s time to realize cost
efficiencies from globalizing your resources.
Page 6 3. Leveraging your IT investment
The benefits of going beyond simple automation and more comprehensively
leveraging all of your IT resources also applies to your SOX function.
Page 8 4. Innovating strategically
Strategic innovation around SOX execution can enhance your competitive advantage.
Page 13 Conclusion: Thinking differently about your SOX
function
SOX compliance is an opportunity to bring innovative approaches to help you drive
more value into your operations.
Page 14 Appendices:
• Background
• Industry breakdown
4. Executive summary
Significant opportunity exists to
transform your SOX function
In April 2011, Ernst & Young conducted a face-to-face survey A small proportion of the interviewees, however, have evolved their
with 225 global executives about their SOX compliance functions. thinking. Their companies have come to look at SOX the way they
For the most part, we found organizations are still treating SOX look at many of their operations: as an opportunity to innovate, to
compliance the same way most of them originally looked at it: as a automate and to gain competitive advantage. These are companies
compliance exercise. that have seen the correlation between certain SOX compliance
practices and the ability of the SOX function to add value to the
business — which 56% of the executives considered a key challenge
“Adding value to the business” identified for their SOX function.
as a key challenge of SOX functions Thinking outside the SOX box reveals four actions companies can
take now to empower their SOX functions to create fundamental
advantages in their sectors:
What are the key challenges faced by your SOX
function? 1. Automate controls
The majority of respondents consider adding value to their business a key 2. Offshore for lower-cost resources
challenge of the SOX function.
3. Leverage IT investment
4. Innovate strategically
Cost/Level of effort and
innovation in control 58%
testing strategies
The Who’s Who of this report
Adding value 56% The executives who took part in the survey were all in positions
to the business
that gave them a close-up view of SOX activities at their
Integration with companies — and they told us that the SOX function is definitely
other risk and 44% on the C-suite radar: 78% of the survey participants report to
compliance functions the CFO, CAE or the Controller.
Providing learning and
career opportunities 37%
for SOX personnel We aimed for broad-based representation across industries, with
21 sectors involved, ranging from aerospace and defense to
Technology- 32% telecommunications. The greatest number of respondents were
related challenges
in banking and capital markets and insurance, with 11% each of
the total participants, followed by technology (9%), and power
Controls monitoring 32% and utilities and consumer products (8%). See Appendices for full
industry breakdown.
Effectiveness 25%
While we talked with executives at companies ranging in size from
of resources less than US$1 billion in annual revenues to more than US$50
Dealing with mergers billion, the bulk of the participants (65%) were in the middle of the
or acquisitions of 16%
range, companies between US$1 billion and US$25 billion in size.
private or non-SOX-
compliant entities
Other 15%
1%
None of the above
0% 10% 20% 30% 40% 50% 60%
Multiple responses allowed
1
5. 1. Automating your controls
When we asked the survey executives about the number of controls • 35% of our participants indicate that they have more than 1,000
tested by their SOX function, we got a good picture of just how controls, more than 60% of which are key controls.
massive an undertaking SOX compliance is:
Then factor in that, for 62% of the companies, the testing of key
controls alone took at least five hours … per control. Add test of
design, walk-through and all the controls that aren’t designated as
Companies that reduce their total number key − which could be 20%–40% of the total number of controls − and
of controls tend to focus on key controls the time in the field to actually perform all the manual controls.
In short, SOX is a tremendous drain on resources that could be
deployed on other, more value-added tasks.
What is your company’s total number of
It’s a diverse drain on resources, as well: survey participants
SOX-related controls? revealed they were experiencing SOX deficiencies in more than 10
different areas of SOX testing, from derivatives to inventory, with
Total number of SOX-related controls 51% saying that IT general controls were giving them the most
The majority of respondents have fewer than 1,000 controls. problems (financial statement close process was the second-highest
area of deficiencies at 9%).
Less than 250 19%
Testing is the most time-consuming
250–499 24%
of the three key SOX activities
On average, how many hours do you spend on each
500–999 22% key control?
Design and walk-throughs versus testing controls
Between 22% • Most respondents spend less than five hours on design and walk-through
1,000–2,499
of each control.
• By comparison, the majority of respondents spend 5 hours or more on
2,500 or more 13% testing per control.
0% 10% 20% 30%
Design 80% 13% 6% 1%
What percentage of your controls are key controls?
Controls Percentage Walk-through 72% 25% 3%
Less than 250 79%
250–499 78%
500–999 72%
Testing 39% 39% 15% 8%
Between 1,000–2,499 66%
2,500 or more 62%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Key controls as a percentage of total controls
Less than 5 hours 5 to 10 hours
Average key control percentages are provided for the corresponding 11 to 20 hours over 20 hours
categories on left. The fewer total controls, the higher the percentage of
focus on key controls. Companies that reduce their total number of controls
Percentages may not total 100 due to rounding.
tend to focus on key controls.
2
6. Budget/Spend for SOX compliance Few key controls fully automated
What is the company’s annual budget/spend for What is the percentage of fully automated controls
SOX compliance? (vs. manual or IT-dependent controls) that make up
your total key controls?
Less than
$0.5 million
18% Fully automated key controls
• Most respondents say that less than 25% of their key controls are fully
automated.
$0.5–$0.9 million 18%
And yet, only 3% of the executives have fully automated more than half
of their key controls — and 78% have fully automated less than a quarter
$1–$1.9 million 27% of their key controls.
$2–$2.9 million 15%
No key controls
1%
are fully automated
$3–$4.9 million 8%
Less than 10% of key
controls are 36%
fully automated
$5 million
14% 10% to 25% of key
or more
controls are 41%
0% 5% 10% 15% 20% 25% 30%
fully automated
26% to 50% of key
controls are 19%
Average Median fully automated
US$2,766,742 US$1,200,000 51% to 75% of key
controls are 3%
fully automated
You can easily see why 39% of participants consider cost More than 75% of key
to be one of their key challenges. The SOX spend data confirms controls are 0%
fully automated
that this can be a major budget item:
0% 10% 20% 30% 40% 50%
• 37% spend at least US$2 million annually.
• 14% spend at least US$5 million.
Takeaway
There is widespread recognition that automation frees up Increasing use of automated controls can reduce your
resources to be put to better use elsewhere. By increasing costs in other ways too. We saw 55% of survey participants
your use of preventative automated controls and “turning indicate that their external auditors relied on 51% or more
on” key switches in IT systems, you can drive down the of the walk-throughs and testing work performed in-house.
number of manual touch points and labor-intensive detect So, if you automate controls and do SOX right, you may also
controls. Similarly, using automated tools in the SOX be able to increase reliance by your auditor. This may help
controls-testing process will have an immediate impact on reduce the time spent by your SOX-function employees
SOX costs. handling the inquiries and testing by the external auditors.
3
7. 2. Offshoring for lower-cost resources
Cosourcing is already being used extensively in the SOX arena: 50% • 81% of our survey executives said that Internal Audit was
of survey participants said that they used outside service providers involved with their SOX program.
for some part of their SOX-compliance work, with 66% using outside
• 40% indicated that their Internal Audit department devoted at
resources for testing. And yet:
least a quarter of its budget or more to SOX activities.
The majority of respondents use outside providers — most often for testing
Do you use an outside service provider for If yes, how do you use them?
SOX activities?
Outside service provider usage
Outside service provider used for SOX activities Testing is the key activity performed by outside service providers.
Just over half the respondents have an outside provider for one or more
SOX activities.
Testing 74%
Scoping/ 18%
risk assessment
No Yes PMO 7%
48% 52%
All of the above 16%
Other 14%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Multiple responses allowed.
4
8. Most IA departments are involved in the SOX program
Is Internal Audit involved in the SOX program? If IA is used in the SOX program, what percent of IA
budget/capacity is spent on SOX testing?
Internal Audit involvement in SOX program
For the majority of respondents, the Internal Audit department is involved Internal Audit resources on SOX testing
with the SOX program. Most respondents whose Internal Audit department is involved in the SOX
program say that less than 25% of its budget and capacity is spent on SOX.
testing.
Less than 25% 59%
No
19%
26%–50% 29%
51%–75% 10%
Yes
81%
Over 75% 1%
Don't know/
1%
unsure
0% 10% 20% 30% 40% 50% 60% 70%
The outsourcing of activities that aren’t fundamental to meeting
SOX work performance breakdown strategic business objectives has been a leading business practice
for many years now. There is no question that it reduces costs and
What percentage of SOX work is performed by the allows in-house resources to be applied to more strategic, core-
business matters. The off-shoring of such less-strategic operations
following:
not only helps companies reduce costs, but it also allows them to
practice “follow the sun” operations, which provide another means
Total 100% for increasing the productivity of in-house and (or) domestically
Resources at corporate headquarters 60% located resources. Yet only 3% of our survey participants were using
offshore resources for their SOX function.
Regional resources at other company locations 26%
Domestic third-party resources 9%
Takeaway
Other 2%
The basic procedures involved in the SOX function have
Offshore third-party resources 2%
been in practice for several years and are fairly well
Offshore resources not at company locations 1%
codified. Now is the time to realize the cost efficiencies
that can be derived from globalizing your resources.
5
9. 3. Leveraging your IT investment
Let’s be clear: leveraging your IT investment goes far beyond
turning on various automated controls in the systems and
automating testing. There is a real opportunity to use technology Ernst & Young
more strategically. Yet, we found only small percentages using more
innovative technology-based techniques: Controls Review Tool
• Only 21% employ data analytics regularly. Ernst & Young’s proprietary Controls
• 88% never use predictive modeling. Review Tool (CRT) enables our teams
• 65% do not use continuous controls monitoring. to quickly assess their clients’ current
We found that 90% of survey participants still use Excel® controls strategy and assist in the
for their scoping exercise, when there are other third-party identification of potential opportunities
tools that can slice and dice risks and controls in order to
optimize scoping. for improving the strategy for testing
controls and improving controls-related
documentation.
Testing process: data analytics or
The CRT presents internal controls
predictive modeling?
data in a user-friendly format, including
How often do you use the following as part of your
a summary of control statistics, a
testing process? detailed breakdown of controls by
processes and related applications,
Tools used in the testing process
and different views of the relationships
Most respondents either never or sometimes use advanced analytical
techniques as part of their control testing process. between controls and risks. The CRT
Among those who use them often or always, data analytics is the most can also help provide visibility into
popular technique. opportunities for rationalizing or
optimizing controls, including better
leveraging of automated controls.
Data 37% 42% 15% 6%
analytics
Automated
testing 39% 44% 14% 3%
methods
1%
Predictive
88% 9% 2%
modeling
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Never Sometimes Often Always
6
10. Continuous controls monitoring Excel® favored for scoping exercises
not widely used
What tools/software do you use as part of your
For what percent of SOX controls do you perform scoping exercise?
continuous controls monitoring (e.g., leveraging
Blackline to monitor account reconciliations)?
Continuous controls monitoring Excel® 90%
• Almost all respondents say that they either do not perform continuous
controls monitoring at all, or do so for less than 25% of all SOX controls.
Third-party
19%
vendor/software
Do not perform
continuous 65%
controls In-house –
monitoring developed tool/ 14%
software
Less than 25% 28%
None 4%
26%–50% 3%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
51%–75% 1% Multiple responses allowed.
More than 75% 2%
0% 10% 20% 30% 40% 50% 60% 70%
Percentages may not total 100 due to rounding.
Takeaway
Strategic use of your IT investment is a critical driver
of competitive advantage. Our survey results suggest
that this holds true for applying it to your SOX functions
as well.
7
11. 4. Innovating strategically
Our survey explored the opportunities for applying innovative Specific innovative practices we asked about included:
practices to the SOX function and found this to be a relatively
• Use of control self-assessment (58% do not use at all)
untapped option.
• Peer reviews (63% do not use at all)
For instance, when asked when the last time a controls
rationalization/optimization or other innovative exercise had • Incorporating the SOX function into ERM program (48% do not)
been conducted − only 52% of respondents said it had been
• Creating more entity-level controls (94% had fewer than a quarter
during the current fiscal year.
of their key controls as entity-level controls)
Incorporating the SOX function into Few key controls are entity-level controls
Enterprise Risk Management
What is the percentage of entity-level controls that
Is SOX incorporated into your Enterprise Risk make up your total key controls?
Management (ERM) program?
Entity-level controls as percentage of total
Relationship between SOX and ERM key controls
Almost half of respondents do not incorporate SOX into their ERM
programs.
Less than 10% of
key controls are 54%
entity-level controls
10%–25% of key
controls are 40%
entity-level controls
26%–50% of key
controls are entity- 5%
No Yes level controls
48% 52%
51%–75% of key
controls are entity- 1%
level controls
More than 75% of key
controls are entity 1%
level controls
0% 10% 20% 30% 40% 50% 60%
Percentages may not total 100 due to rounding.
The use of entity-level controls is a particularly under-utilized
opportunity. Since one really effective entity-level monitoring
control may eliminate the need to do many transaction-level
controls, companies can significantly reduce the testing workload
by properly designing robust and effective entity level controls.
8
12. Rationalization/optimization exercises have been performed
When was the last time a rationalization/optimization If a rationalization/optimization or other
or some other innovative exercise was conducted? innovative exercise was conducted, what
techniques were used?
Innovative exercises
Only 52% performed rationalization/ optimization or other innovative Key techniques
exercises this fiscal year. Most respondents utilized rationalization of in-scope controls.
Current 52% Rationalization of 91%
s a year in-scope controls
Increased reliance
on higher-level
quarterly/monthly
55%
ast s a year 19% controls and less
on transactional
controls
Automation/
Two or more Optimization of 42%
24% SOX controls
years ago
Global
standardization of
control set (if 41%
Not performed 4% multiple countries/
locations)
Use of technology 22%
0% 10% 20% 30% 40% 50% 60%
for testing
Percentages may not total 100 due to rounding.
Implementation of
continuous controls 20%
monitoring
Other 7%
None of the above 2%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Multiple responses allowed.
9
13. Control self-assessment not widely used Peer reviews not widely used
For what percent of controls does the company use For what percent of controls does the company use
control self-assessment (CSA)? peer reviews?
CSA Peer reviews
• The majority of respondents do not use CSA. • The majority of respondents do not use peer reviews.
Do not use Do not use 63%
control 58% peer reviews
self-assessment
17% Less than 25% 16%
Less than 25%
26%–50% 5% 26%–50% 4%
3% 51%–75% 4%
51%–75%
More than 75% 12%
More than 75% 16%
0% 10% 20% 30% 40% 50% 60% 70% 0% 10% 20% 30% 40% 50% 60% 70%
Percentages may not total 100 due to rounding. Percentages may not total 100 due to rounding.
10
14. There appears to be good reason to explore such innovative The leveraging of SOX information and testing with other
practices: they help deliver additional value for the business. departments that could put it to valuable use was also fairly
For instance, of those survey participants who had incorporated minimal:
their SOX function into their ERM program, 79% were satisfied or
• Only 9% of participants indicate they “significantly” leverage
extremely satisfied with the ability of their SOX function to add
their SOX testing results with their regulatory and compliance
value, while only 54% of those who hadn’t folded SOX into ERM
functions.
programs were similarly satisfied. Similar results were noted when
we asked about continuous controls monitoring. • Only 3% of participants do the same with their legal department.
Leveraging SOX information and testing across other functions/
departments within a company will decrease the burden felt by the
SOX incorporated into ERM program and business units. Another point here is that there are opportunities to
get a leg up on the competition by building the SOX function into
satisfaction with value the regular ebb and flow of business operations — by using self
assessments or peer reviews. Once you change the mindset at
Is SOX incorporated into your ERM program? the business-unit level, the SOX function can move beyond
compliance and into helping manage and monitor the business
How satisfied are you with the ability of your SOX on a continuous basis.
function to add value?
Internal Audit most often leverages
SOX testing results
How much do you leverage your SOX testing results
with other departments in the company or other
No 45% 43% 11%
compliance/reporting functions?
o
Leveraging SOX testing results
o
Respondents leverage SOX testing results most with the Internal Audit
department.
e
Yes
o o
21% 65% 14%
IA 7% 13% 26% 54%
0% 20% 40% 60% 80% 100%
ess s s e s e e e s s e
Regulatory/ 33% 39% 19% 9%
Percentages may not total 100 due to rounding. Compliance
There are also opportunities to get ahead of the competition by
exploring and developing innovative ways to generate more usable Legal 51% 35% 11% 3%
SOX information and (or) put SOX testing/data to more diversified
use. When we asked about the frequency of controls testing, we
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
found only 4% test continuously through the year. This is roughly
the same percentage that has fully automated most controls Not at all Very little Moderately
(which is probably required to make it economically feasible to do
continuous testing).
11
15. Does this lack of innovation matter? Our survey participants seem
Frequency of testing and roll-forward to think so. The participants whose companies refrain from using
the most progressive testing and scoping practices are less satisfied
approach with the ability of their SOX function to add value.
What is the frequency of your testing and your roll-
forward approach? Use of continuous controls monitoring,
Key techniques CSA and peer reviews coincides with
Frequency results for testing and rollforward are fairly evenly distributed fewer respondents being less than
over the year among the respondents.
satisfied with value of SOX function
A greater percentage of respondents who were “less
Controls tested
continuously throughout 4% than satisfied” with the ability of their SOX function
the year
to add value do not use the most progressive or
Majority of controls tested in innovative practices:
Q1 or Q2 and then roll-forward 23%
procedures/testing
re-performed in Q4
Majority of controls tested in
25%
Q1 or Q2 and limited 25% CSA
roll-forward procedures 37%
performed in Q4
Majority of controls tested later
in the year (late Q3/Q4), 29%
no rollforward performed 22%
Peer review
38%
Controls testing spread 20%
evenly throughout the year
0% 10% 20% 30% 40%
Continuous 19%
control
Percentages may not total 100 due to rounding. 39%
monitoring
0% 5% 10% 15% 20% 25% 30% 35% 40%
Use technique Do not use technique
Takeaway
In the global economy of the 21st century, innovation
often plays a vital role in differentiating a company and
bringing it to a position of industry leadership. Strategic
innovation around SOX execution can lead to better
strategic use of your existing resources.
12
16. Conclusion
Thinking differently
about your SOX function
Thinking outside the SOX box shows that SOX compliance is an opportunity to
bring innovative approaches to a subject area that has become somewhat stale and
routine. Innovative practices and approaches improve the chances that a company
will build more value into its operations, including:
• Reductions in spend from a substantial line-item cost
• More strategic allocations of financial-control resources
• Greater consistency and efficiency of controls across locations through
automation
• Reduced stress and burden on in-house resources through a powerful
combination of automation, outsourcing, and leveraging SOX work across the
company
• Using automated techniques (e.g., data analytics) — Expanded and more
comprehensive risk coverage without increasing the budget
When this shift in perspective occurs, there is ample opportunity to bring strategic
innovation to the seemingly mundane SOX issues of scoping processes and testing
strategies and execution. There are sophisticated tools to explore. Different
approaches to acquiring and analyzing data can make the data more valuable,
not only for compliance tasks, but for other previously unexplored purposes.
13
17. Appendices:
Background
Company revenues Internal Audit department and Internal
Control department both own the SOX
Annual revenue:
administration and testing
Annual revenue categories and responses
The majority of the respondents fall into the category of US$1 billion to Who owns administration and testing components of
US$25 billion in terms of their annual revenues. the SOX compliance function?
Ownership of the SOX compliance function
The Internal Audit department and the Internal Controls department are the
Less than 7%
$1 billion main divisions controlling the administration and testing components of SOX
compliance for the current respondents.
$1–$10 billion 42%
Internal Audit 34%
department 56%
SOX/Internal
$11–$25 billion 23% 52%
Controls 29%
department
Finance and 14%
accounting 10%
$26–$50 billion 13%
Business/Process 6%
owners 17%
More than 14%
External service 2%
$50 billion provider 14%
Compliance/Risk 4%
0% 10% 20% 30% 40% 50% management 5%
2%
Percentages may not total 100 due to rounding. Other 4%
0% 10% 20% 30% 40% 50% 60%
Administration Testing
Multiple responses allowed.
14
18. Industry breakdown
SOX compliance function reports most Response by industry
often to the CFO
Industry categories
To whom does the SOX compliance function report? The two industries with the maximum number of completed surveys were
Banking and Capital Markets and Insurance.
Reporting relationship of the SOX
compliance function
Insurance 11%
Most respondents report to either the CFO, CAE or the Controller.
Banking and
capital markets 11%
Technology 9%
Consumer products 8%
Power and utilities 8%
CFO 45%
Oil and gas 7%
Automotive 7%
Life sciences 7%
CAE 20%
iversi ed industrial
products 6%
Media and entertainment 6%
Retail and wholesale 6%
Controller 13%
Telecommunications 5%
Aerospace and defense 2%
Asset management 2%
2%
Legal counsel
Chemicals 2%
Mining and metals 2%
Real Estate 2%
2%
Chief ris of cer 2%
Transportation
Provider care 1%
Chief compliance Airlines 1%
2%
of cer Pro essional rms
and services 1%
Government and 0%
public sector
SOX steering t r r t 0%
committee 2%
Private equity 0%
0% 5% 10% 15%
15%
Other
0% 10% 20% 30% 40% 50%
Percentages may not total 100 due to rounding.
15
19. Contacts
Is your SOX function geared for this transformation? Ernst & Young can help
you explore this opportunity.
Robert F. Cullen III Sapna Ahuja
Partner, Advisory Services Senior Manager, Advisory Services
+1 612 343 1000 +1 212 773 5928
robert.cullen@ey.com sapna.ahuja@ey.com
For a copy of the complete SOX survey, please contact the above or your Ernst & Young
engagement team.
For related thought leadership
from Ernst & Young, please visit:
ey.com