Automating Sarbanes-Oxley Compliance Testing for ... - Worksoft, Inc.

Automating Sarbanes-OxleyCompliance Testing for SAP ® ApplicationsA Guide to Cost and Time Efficienciesfor Annual SOX Compliance InitiativesEstablishing Goals to Optimize Your ROI Benefitsby Automating Your SOX Compliance TestingThe initial baseline establishes the total group of controls that can be considered forautomation; however, some portion will continue to be manually tested due to the natureof the control. The strategic direction should be to automate as many controls as possible,keeping the following goals and benefits in mind:Goal Goal Description Associated BenefitGoal 1Significantly reduce the person hours associatedwith testing by automating the controlstesting and work paper creation.The hours associated with every control that is automated is reduced down to onlythe business owner approval hours; typically a reduction of 8-12 person hours percontrol.Goal 2Eliminate the external costs associated withthird-party testing.By automating the controls work done by third-party providers, you eliminate theexternal costs without introducing more work back on the business. Reliancebased on automation should be confirmed with the external audit team.*Goal 3Eliminate the need for additional effort increating manual work paper documentationby using Worksoft Certify ® for automatedtest reporting capabilities.Worksoft Certify, an automated testing solution, efficiently creates thework papers, eliminating the need for extra effort in preparing audit-readydocumentation.Goal 4Automate the assessment of year-to-yearchange related to controls.By assessing what has changed and what has not, some control testing canpotentially be distributed over a longer period of years, versus testing all controlsevery year.*Goal 5Reduce the overall time required to executeannual SOX control testing.Depending on the number of controls, it is reasonable to target completion of alltesting and documentation within a one week period versus multiple weeks tomonths of effort.Goal 6Automate the management, monitoring,and communication of controls testing andresults with online dashboards and metrics.Automated tracking of the testing reduces the need to manually track theprogress, execution, and results of the testing. Real-time visibility to test issuesenables quicker resolution and retesting to obtain final, positive results.* External auditor review and approval required© 2009 Worksoft Inc. All rights reserved.Worksoft and Worksoft Certify are registered. All other trademarks are properties of their respective owners.PG. 6