Best Practices For Financial Compliance, Transparency, And Accountability

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Overview: This webcast talks on the Best Practices for Financial Compliance, Transparency, and Accountability. The webcast follows a question-answer and feedback session. The present scenario tells that Sarbanes-Oxley is on agenda for every publicly traded company and those wishing to be public. With this issue comes the perspective of risk-management. The webcast tells about the post 2003 technology scenario where MS Excel still dominates the reporting. The critical issues involved in this connection are leveraging control in ERP processes, enabling communication, and evaluating risk. The heightened level of CEO/CFO risk is also discussed. The business process owners need continuous auditing processes, visibility at transactional level and early risk detection. The financial data must be aggregated and made more accessible. It is suggested to utilize portals for internal management and external entities like SEC, investors. The discussion on new financial regulations indicates the system flow with the help of PeopleSoft FMS and without its help. The challenges involved in internal controls in the perspective of SOA, the 3-way matching, are also discussed. It also talks on the new opportunity with the 404 reprieve. One has to assess the current control states; identify areas to optimize existing system-based and procedural controls; and configure and implement application level controls.

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Format: Webcast | Date: Jun 2003