Facing financial reporting regulations such as Sarbanes-Oxley, J-SOX, OMB Circular A-123, Bill 198, International Financial Reporting Standards, and Turnbull, organizations across the globe are seeking an effective means to report on internal control over financial reporting on an ongoing basis. Recognizing the relatively high cost of compliance in comparison to the return on investment, companies use the Governance Portal to make financial reporting compliance more cost-effective through” out-of-the-box”  frameworks, a risk-based approach and an effective test plan.

The Governance Portal for Financial Controls is designed to improve corporate governance and facilitate compliance with financial reporting regulations in a cost-effective manner. It serves as a repository for all internal control documentation, evaluation and testing, to comprehensively manage the key components of a sustainable financial reporting compliance program.

The Governance Portal for Financial Controls allows you to:

1. Complete a financial risk-based scoping exercise and prioritize key risks and controls that affect your compliance with financial reporting regulations. 
2. Create process, risk and control documentation in a central repository, allowing you to analyze organizations, processes and IT systems.
3. Deploy design and operating effectiveness assessments to control owners through an integrated survey engine to drive accountability and simplify the user experience.
4. Validate your controls through independent testing and continuous monitoring, providing you assurance regarding your control environment.
5. Facilitate disclosure certification of gaps and weaknesses through dashboards and reports that compile information based on your analyses and testing. 
6. Integrate remediation management into your process through action plans, automatic email notification to business owners and reporting, ensuring deficiencies are addressed.