Publicly listed companies in the United States and Canada are required to institute and demonstrate appropriate internal controls over financial reporting, based on Sarbanes-Oxley Act section 404 (SOX) and National Instrument 52-109 (C-SOX). Similar requirements exist in other jurisdictions and government entities are increasingly being held to similar standards such as OMB (Office of Management and Budget) A123.

Organizations that attempt to manage regultory compliance using spreadsheets quickly run into a variety of challenges, including:

• Inconsistent approaches to documenting and evaluating risks and controls.
• Lack of top down view of the status of compliance activities across the organization
• Inconsistent and incomplete reporting
• Manual tracking of deficiencies and mitigation plans
• Lack of version control and audit trail, resulting in risk of error, when several people are working in spreadsheets
• Inability to identify commonalities, such as shared risks and controls across departments, locations and business processes

BPS Resolver’s Internal Controls software solution provides an efficient and effective alternative to informal approaches or expensive inflexible systems. The use of technology increases effectiveness of a compliance program by putting responsibility directly in the hands of the organization’s risk and control owners, while enabling ongoing instant status reporting to management. At the same time program cost is reduced as administrative tasks are automated and unnecessary duplication of work across the organization is ended.

With the BPS Resolver Internal Control software solution, companies execute scoping, manage documentation, create and execute test plans, identify deficiencies, and execute  remediation plans in a inherently flexible system that adapts to a company’s structure and practices. This configurability also enables changes to be made as the company grows and processes change.

With flexible, easy to use reporting which drills down to detailed access to documentation, the Internal Controls software solution ensures that controllers, CFOs, department managers, testers, board of directors and senior management, even external auditors, each have their own secure, custom view of, and interaction with, Internal Controls data. In addition, BPS Resolver’s industry-leading Issues and Action Tracking functionality ensures issues that are identified in the review and testing processes are resolved well before management’s certification.

BPS Resolver’s Internal Control is designed to be simple, flexible and complete and adaptable to any organization performing regulatory compliance with Sarbanes Oxley, NI52-109 or similar legislation. In addition it can easily be expanded to encompass compliance with other regulations and industry standards, with many available pre-built, customizable frameworks, or to incorporate enterprise risk or a full GRC program over time. The solution is provided as Software as a Service (SaaS) to take advantage of BPS Resolver’s hosted and managed high performance, high availability environment, or can be installed on a customer’s own servers.

Contact Us

To request more information about BPS Resolver Internal Control, please use our contact form or to speak with a BPS Resolver representative, call us at 1-888-891-5500 or +1 416 622-2299.