High compliance with low investment; it’s possible
One of the world’s largest electronics distribution company, they serve customers in more than 115 countries. Ranked among the Fortune 500 enterprises, they are also known for their ethical practices.
The client needs to comply with the requirements of the Sarbanes Oxley Act (SoX). Among other tasks, their Corporate Audit team has to periodically test internal controls, review documentation, identify process deficiencies, and get an overview of risk from different geographies. An uphill task, given that they operate in 115 countries and need to account for country-specific rules.
Pierian was brought on board in 2005 to assist the enterprise’s Corporate Audit Asia team. Our teams test internal controls (for both IT and manual processes) for APAC and EMEA regions, identify deficiencies, and present the findings. The partnership has enabled the company to reduce the risk of compliance failure, while streamlining and improving process documentation for the complete APAC region. We’ve educated process owners about key features in the organization’s Risk Control Matrix, improving overall risk awareness. In effect, greater monitoring and compliance, while keeping investments required to build such competency, low.
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