Compliance Frameworks

Automating control documentation, testing, and exception management for easy compliance to regulations including Sarbanes-Oxley

The burden of compliance for public companies is staggering. Beyond audit costs, Sarbanes-Oxley ties up IT and finance resources documenting and testing control procedures. Successful execution is critical. If you fail to identify and remediate control deficiencies, you risk being labeled with a material weakness that will appear on your public filings. Public companies need control and compliance solutions that help them manage the risk while minimizing the impact on their overburdened IT and finance functions.

Pegasystems' Control and Compliance™ Solution Framework leverages the power of SmartBPM® to automate the control process, from automating the creation on documentation of controls to the review of those controls on a periodic basis to the execution of control processes like ensuring proper approval of systems changes and systems access. SmartBPM reduces manual work while lowering risk, using rules-driven processing to help identify problem trends and ensure that they are addressed in a timely fashion.

• Control and test management manages the documentation and review of corporate controls and the execution of self-tests of these controls:
  • Leverages recognized control frameworks, COSO, COBIT, and ICFR to provide guidelines for comprehensive documentation of controls
  • Automates the process of describing and reviewing control objectives, detailed control objectives, and risk assessments with simple, easy-to-use forms
  • Automates the creation of Excel self-test forms and import of results for easy documentation of compliance
• Exception management enables companies to track control exceptions from initiation through to resolution for better, more easily auditable compliance:
  • Manages the complete exceptions lifecycle: reporting, review, evaluation, and remediation
  • Helps identify recurring problems by automatically searching for related control exceptions
  • Manages the creation of remediation plans and the delegation of remediation tasks for prompt resolution of identified control deficiencies
• Change and access tracking provides a centralized location for managing documentation of system changes and systems access:
  • Manages the approval process for systems-access requests and changes, bundling changes into releases and notifying appropriate parties for approval
  • Provides easy access to reports on system access and system changes for audit purposes
  • Forces periodic business-owner review of access privileges for audit compliance