More and more regulations worldwide require clear visibility on processes to manage internal controls. Such regulations include Sarbanes-Oxley (SOX) Act, Italian law 262, UK Senior Manager and Certification Regime (SM&CR), Foreign Corrupt Practices Act (FCPA), Healthcare Insurance Portability and Accountability Act (HIPAA), various Anti-Money Laundering (AML) laws and many more.
Failing to meet these regulatory requirements can lead to hefty fines and many deficiencies during external audits. Moreover, lack of transparency on processes creates risks of operational incidents, inefficiencies and fraud.
This white paper will provide an overview of the internal control challenges companies typically face; the value companies can derive from a business process-driven methodology; the key steps to implement an effective business process-driven internal control solution; and a summary of the resultant benefits.
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