Multiple stakeholders are involved in every SOX program including Audit Committees, External Auditors and Internal Auditors but all depend on Management to be successful. 2020 Control is designed to ensure Management’s success by efficiently driving RESULTS!
2020 requires that risks be identified and that unacceptable risks be controlled. Direct alignment between risks and controls ensures that significant risks are not left unaddressed and that compliance programs aren’t over-burdened with unnecessary controls.
Engage Control Owners
By definition, control owners should be responsible for their controls, yet often times other organizational functions such as Internal Audit assume responsibility for these controls. 2020 recognizes the prominent role of the control owner and promotes:
Control Documentation Approval
Control Performance Evidence
Single Data Entry Point
As 2020 Control is an online solution, all risk, control and testing documentation is entered once in 2020 and distributed across the application. All stakeholders see consistent, up-to-date views of the data at all times. No more emailing spreadsheets, or checking what version of documentation you are looking at.
Not everyone on the team is equally versed in SOX compliance requirements, nor do they need to be. 2020 email alerts drive users to tailored with only their respective actions, minimizing the need for in-depth training.
SOX compliance can be costly. Management and their auditors must document and test many of the same risks and controls to support their attestations and opinions, respectively.
Configurable control attributes permit documentation expansion in 2020 to satisfy both parties while significantly reducing documentation hours overall.
Periodic evidence uploaded by owners to 2020 serves as viable testing documentation reducing the number of additional requests made of control owners.
With one click real time status of all SOX activities is displayed. Control approval, evidence loading and testing progress for any location, process or control is just one click away.
Security goes into everything we do. From robust system design, to compliant hosting solutions, you can feel good about choosing 2020 Control. 2020 also has a robust user management system, so users can only view data appropriate to their role.