Ironworks built a customized Compliance solution leveraging Microsoft Office Sharepoint Server 2007 (MOSS). The solution provides a base framework that allowed the client to efficiently organize and facilitate their compliance process each fiscal year, and is comprised of the following core features:
- Custom interfaces that serve as replacements for Compliance documents that capture financially relevant processes, risk assessments, control testing documentation, and deficiency management.
- A centralized database to serve as a single source of record for control data
- Workflow to facilitate
- Document review/approval by compliance management
- Deficiency notification/response from control owners
- Control Testing procedure review and approval
- Reports that aggregate risk mapping coverage/gaps and internal control testing/assessment status
The aforementioned solution features were then tailored to the client’s compliance function and procedures, drawing on the knowledge of Ironworks’ experience in the compliance advisory services practice.