How to digitize your SOX program

Transforming Risk into Confidence podcast series

In this episode, Jaime Phillips and Jeff Sorensen join Michelle Hubble to discuss the four key pillars to digitizing a SOX compliance program and how to address the associated challenges.

We discuss the following questions:

0:41 - Why do organizations need to focus on the entire program when looking to digitize a SOX program?
2:20 - What are the four key pillars that are important when digitizing a SOX program and the challenges around them?
8:18 - What are companies tangibly doing to address these challenges?
9:14 - As these technologies are not one size fits all, how should organizations think about the technologies and processes as well as the impact they will have?
10:55 - How is a control owner going to benefit from SOX digital capabilities?
12:55 - How much time should it take to make sure the business requirements are set before starting to think about technology solutions?
14:39 - How can you start using these new digital skills when wanting to test manual controls, automated controls or IT general controls differently?
16:14 - What are some additional takeaways when looking to digitize your SOX program?

About our moderator

Michelle Hubble is the Leader of PwC's Internal Audit Center of Excellence. She has built her career on the foundation of aligning diverse teams and solving complex business issues as the foundation. Michelle enables clients to improve business processes and related controls through consultative and assurance services. She helps them meet business objectives and mitigate critical risks.

Michelle’s teams deliver projects ranging from evaluating the design and operating effectiveness of controls; creating and/or improving the processes for compliance with policies and government regulations (including SOX); designing and implementing controls during business process transformations and system implementations (with a focus on SAP and Oracle); co-sourcing Internal Audit functions to enhance value delivered; and assisting Internal Audit functions improve alignment with organizational strategic objectives.

About our guests

Jaime Phillips is a Principal in PwC's Risk Assurance Practice with more than 17 years of experience serving Risk Management, Compliance and Internal Audit clients. Her experience includes risk management and internal audit advisory, outsourcing and co-sourcing, as well as external audit support and SOX engagements. Jaime also has extensive experience in planning, executing, and managing all aspects of compliance projects, testing function implementation, internal controls assessment projects, technology, technology governance and strategy, business process audit, and system implementation work. Jaime helps lead our national SOX Center of Excellence, where she is focused externally on helping clients and engagement teams digitize SOX compliance and internally on driving the firm’s Digital SOX strategy.

Jeff Sorensen is a Director in PwC's Risk Assurance Practice with more than 13 years of experience in a variety of areas including compliance, internal audit and financial reporting with a focus on digital innovation for both our consulting and external audit clients. Specifically, Jeff is one of PwC’s Digital Accelerators (DAs), where he is leading efforts to upskill the Risk Assurance practice and rethink how technology is used. As a DA, Jeff is working with PwC’s national SOX Center of Excellence, where he leads efforts to incorporate the latest technology and innovation into our SOX Digital Solutions. Jeff is focused on helping clients implement the latest technology within their compliance, internal audit and SOX work to keep pace with the changing world.

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Mike Maali

Mike Maali

Partner, Risk and Regulatory, PwC US

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