IT General Controls form an important part of an organizations control environment. A typical organization has multiple IT systems with varied IT infrastructure increasing the need for ITGCs to monitor these systems. Before we look in details on how to handle IT General Control deficiencies, it is worth re-looking at the definition of ITGCs. “ITGCs [...]
Deficiencies in ITGC IT General Controls – How to handle ITGC Exceptions
May 31, 2013 By Leave a Comment
Step by Step Guide to Automating a Control – How to Automate SOX Controls
May 26, 2013 By Leave a Comment
In today’s world, most companies are focused on reducing the cost of compliance. Research companies like Gartner have done several studies on this topic. One of the simplest ways to reduce control costs is to automate controls. Accounting systems especially ERPs such as SAP, JD Edwards, Oracle Financials provide a ton of features not only [...]
The New COSO Framework 2013 – Simple Guide for Risk & Control Professionals
May 23, 2013 By Leave a Comment
It’s here, the new version of the COSO Internal Controls Integrated framework is out. COSO is the industry standard on controls and helps organisations provide better ways to assess internal controls over financial reporting. Before we get into the details of the 2013 COSO update, let’s look at some of the fundamental principles of an effective [...]
SAP FI GL Account Postings – Concept of General Ledger Account Postings in SAP
September 23, 2012 By Leave a Comment
SAP FI module is one of the most important modules from a financial reporting viewpoint. General ledgers need to be configured to ensure SAP FI postings are correctly made and entries within SAP flow into the correct GL accounts. To understand this concept better, lets look into the detailed concept of General Ledger postings within [...]
SAP Implementation Project Duration – How Long Does It Take to Implement SAP?
August 30, 2012 By 1 Comment
Companies implementing SAP R/3 often stumble upon the question as to how long will it take to implement SAP? The answer can vary from one month to a couple of years depending upon the scope of implementation, modules implemented, client’s business etc. A more realistic approach to finding out how much time it will take [...]