As a result of Protiviti’s insights, the client was able to achieve significant improvements to their areas of content. The project resulted in:
- Remediation of SOX-significant control deficiency
- Identification and correction of millions of dollars in critical spreadsheet errors
- Significant reduction in time to review quarterly files
- Significant return on investment from implementation of a spreadsheet management solution versus quarterly manual controls testing
Due to our client’s success with this effort, the control framework has already been adopted by another functional business area. Further adoption is planned throughout 2009. Our client has also expanded the scope of spreadsheets managed beyond those simply required for SOX compliance.
How We Help Companies Succeed
Today, organizations are confronted with a multitude of technologies related to networks, servers, point-of-use devices, operating systems, databases, applications and software development tools. Defining an organization’s technology road map and portfolio of technologies requires an effective architecture and set of standards; however, managing the provisioning of these critical information technology (IT) resources to satisfy demand according business priorities can be complex.
Protiviti works with clients to define and implement core IT support processes with effective controls that enable the allocation and measurement of critical IT resources according to business priorities. Our team of technology risk professionals enables our clients to clearly define the risks of technology, reduce or manage the costs of risk identification, and enable the monitoring of business performance while managing technology risks.