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News < Back Sarbanes Oxley : Technology : Change Detection Movaris Delivers Powerful New Capabilities Greatly Simplify the Complexity of Managing Vast Volume of Financial Control Testing
Certainty 8.1 includes change management functionality that allows companies to effectively manage the volume and impact of business changes to the financial control environment, such as reorganizations, mergers and acquisitions, and personnel changes. The new Summary Testing, mass user updates, mass changes to the control hierarchy, and other new capabilities resolve the greatest challenges of sustaining Sarbanes-Oxley compliance. ?The ability to make massive changes to a control environment, without having to change each individual control, greatly improves staff productivity and eliminates control failures resulting from missed or incorrect changes,? said Diane Manerchia, director of Sarbanes-Oxley compliance for FMC. ?Movaris Certainty 8.1 offers a simple solution to keep our financial control environment up-to-date and accurate while sustaining compliance with Sarbanes-Oxley.? Summary Testing Summary Test Action Plans (see definition of Action Plans below) simplify the configuration and performance of financial control tests and the review of test results by performing a single test for collections of controls at any level of the control hierarchy, including the business cycle, accounting process or sub-process, company objective, or risk. Companies will efficiently draw conclusions about test effectiveness for large groups of controls, identify financial control exceptions, and take appropriate action, such as control re-design or remediation, immediately. Mass User Assignment Changes Now with just a few keystrokes, Certainty 8.1 changes the users assigned to hundreds of financial control tests and other control activities. This capability assures on-time performance of control activities, timely removal of users and assignments of new ones, and improves corporate security. Mass Hierarchy Changes Also with just a few keystrokes, Certainty 8.1 now very efficiently completes mass updates to multiple attributes for hundreds of controls across business units, levels in the control hierarchy, financial controls or control activities. Searching for a collection of control hierarchy items and updating multiple financial control attributes saves tremendous amounts of time in management of change. Control Hierarchy Snapshots Certainty 8.1 presents side-by-side comparisons of the control hierarchy at specific points in time. With visibility into changes in the control environment over time, managers identify improvements and the impact of change on their business unit, and auditors identify the controls in place at the time an issue or exception occurred. Control Result Spreadsheets Certainty 8.1 easily exports a large body of evidence for control and exception management activities directly into a spreadsheet, for additional analysis, sorting, pinpointing or aggregating information. To gain further understanding about control activities, auditors and managers drill down from the spreadsheet to the supporting controls and control activity results in Certainty. ?Key technologies can reduce the cost of SOX compliance upwards of 25%, as compliance has been a mostly manual, people-intensive process. Most companies cannot (and should not) maintain this level of manpower, though the need for compliance will not shrink,? said John Hagerty, analyst for AMR Research in a January 2005 report titled, SOX Decisions for 2005: Step Up Technology Investments. ?Without new technology, companies will continue to overspend on internal employees and external consultants; manual processes also lead to higher external audit costs.? ?To easily and cost-effectively sustain compliance with Sarbanes-Oxley, companies need to consolidate many of the time-consuming individual tasks such as the testing and change management of financial controls,? said markeStan Tims, vice president of marketing and business development at Movaris. ?Certainty 8.1, invented to manage large volumes of tests and user assignment updates, gives companies the powerful capabilities to increase the efficiency of their Sarbanes-Oxley compliance efforts and improve the strength of their financial control environments.? Action Plans In Movaris Certainty, Action Plans consist of pre-built sequences of steps or actions, automatically delivered to specific individuals with instructions and associated reference materials to complete tasks, such as performing or reviewing a control activity. Based on pre-defined business rules and conditions, Certainty Action Plans include the expected completion date, and pre-defined escalation with automatic re-direction for tardy, incomplete, non-compliant or unexpected results. In addition to Summary Testing, Certainty includes 11 activity-specific Action Plans for control evaluations, tests and self-assessments; remediations; exceptions; issues; and 302 certifications and sub-certifications. Movaris, the leading provider of Financial Control Management software, helps organizations create and maintain a strong financial control environment and achieve compliance with Sarbanes-Oxley requirements. Movaris offers the only Financial Control Management applications that automate the management of the entire financial control cycle. Movaris Certainty applications improve confidence in the accuracy of financial statements and dramatically reduce the cost of financial compliance. Movaris customers range from large firms, such as Procter & Gamble, Kmart and Boise Cascade, to smaller companies such as ESI. Movaris is privately funded and based in Cupertino, California. For more information, please visit www.movaris.com. 
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