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Work smarter: Rethink your SOX program
Imagine a SOX compliance function that keeps pace with the rapid changes of businesses, one that exceeds the ever-increasing stakeholder expectations, while proactively addressing the constantly changing risk profiles. PwC has re-imagined SOX in a way that reduces total cost of compliance and helps turn risks into rewards.
As leading organizations evaluate their SOX compliance programs, we find that they hope to be aligned with strategic and compliance objectives that deliver quality but are right-sized for their environment. They also seek to leverage the rise of digital transformation initiatives in order to address business changes and technological advances.
If you're thinking about a similar journey, consider these three areas.
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PwC's Digitally Enabled SOX Program
Digital initiatives are picking up pace
- What digital initiatives is your business undertaking?
- How is your SOX program taking advantage of your digital advancements?
- How can your SOX program keep pace with the advancement in technologies?
- Can you drive greater quality from your SOX program by taking advantage of advances in technology to build even more intelligent, efficient compliance programs?
Pressure on cost is constant
- What is the total cost of your SOX program?
- Have you considered your total cost of compliance?
- What are you not doing because your time and budget is consumed with SOX compliance activities?
The war for talent continues
- Is your SOX program suffering because of turnover?
- Do your SOX testing resources have the right skills to do testing today—and build an approach that is cost efficient?
- Could your SOX testing resources be deployed on higher risk matters?
Ready to make a change?
Innovative technology can improve the quality of your SOX program, make it more cost effective, and deliver insights. But are you wondering where to start? Our SOX team helps you leverage our Intelligent Controls solution along with our experience to transform risk into reward. Our SOX Digital Experience solution combines:
Compliance experience that brings value in all we do—from analytics-based risk assessments using PwC’s SOX Scoping Central accelerator that drives better scoping decisions, to high quality efficient testing, to risk mitigation solutions and solving for complex deficiency issues.
Digitally upskilled, compliance-minded resources, when and where you need them, which include our efficient and cost effective acceleration centers located in five countries across the globe and a key component to enabling our 24*7 SOX Test Factory accelerator—incorporating technology and automation every step of the way.
Innovative technologies such as intelligent automation software like RPA, machine learning and artificial intelligence; and SOX Works—PwC’s proprietary SOX workflow solution and component of the Enterprise Control product suite—a cross system analytics solution that helps companies assess risks within their enterprise system data.
The value we’ll bring to your SOX function
- Lower compliance costs
- Technology-enabled, digital SOX compliance
- A dynamic, customized solution
Lower compliance costs
A right-sized, scalable SOX program that delivers quality at a lower cost:
- A fixed SOX fee that’s up to 30%* less than your in-house cost, allowing increased investment in your business and people
- Scalability through the use of lower-cost, more-efficient testing models including our acceleration centers
- Lower overall cost of compliance as a leaner, more efficient program allows the business to focus on operational performance and strategic business needs
*Estimate based on our experience
Technology-enabled, digital SOX compliance
A digitally transformed partner that:
- Understands the digital paradigm shift and how to use digital transformation to drive more value out of SOX
- Provides meaningful insights early
- Streamlines the SOX process and gives greater transparency into risks, controls, and testing progress throughout execution
- Constantly invests in technology to make the SOX process more efficient while keeping the focus on quality
A dynamic, customized solution
A client-centric solution, leveraging industry experience and regulatory insights, that delivers:
- A program that fits your risk profile, with no surprises
- A highly customizable SOX approach from an upskilled team that keeps pace with your business and its technological changes
- Constant leverage of leading practices and lessons learned from SOX teams nationwide through our Center of Excellence
- Adaptability to quickly reflect changes in your business, industry, and regulatory environment
Combine compliance expertise and technology-enabled solutions to drive quality and balance cost within your SOX program allowing internal resources to focus on higher risk, strategic activities
Getting the technology right
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