QCSox
Today’s stringent regulatory requirements can be particularly onerous for small and medium public companies. Internal controls requirements, in particular, can result in a significant time and dollar investment. QCSox delivers compliance best practices with pre-populated documentation right out-of-the-box for US Sarbanes-Oxley (SOX) and Canadian Securities compliance. A complete COSO compliant system with over 300 documented controls, policy documents, and key checklists – QCSox can streamline internal controls compliance
- Achieve regulatory compliance in weeks
- Leverage existing controls documentation
- Adapt policy documents & checklists
- Support COSO best practices
- Eliminate the risk of non-compliance
- Minimize your compliance costs
Start With Benchmarks and Best Practices
Over the last five years, there has been increased focus on establishing, monitoring, and testing internal controls as the basis for improved transparency and accuracy in public financial reporting. Effective controls are quickly becoming the standard for meaningful and manageable compliance, but require significant time and expenses to establish. QCSOX delivers these benchmarks and best practices, for cost effective compliance.
- 9 complete industry standard governance policy documents
- Industry standard internal controls documentation
- Compliance best practices check lists and best practices
Quickly Customize Pre-Designed Compliance Plans
Management assessment of internal controls requires a systematic planning and risk assessment process. QCSOX provides the necessary planning tools with pre-populated content tailored to industry risk profiles and company sizes - for effective planning and execution of compliance activities.
- Roles & responsibilities based on templates
- Industry-specific risk profiles and matrixes
- Industry-specific business cycles / principle business activities
- COSO-compliant internal controls framework
Adopt Pre-Populated Internal Controls Documentation
For most public companies, best practices dictate that they document two to three hundred key internal controls. QCSOX provides complete documentation for these controls - which can be easily customized to meet your company's specific needs.
- Pre-populated internal control policy documents
- Over 250 documented internal controls
- Over 100 documented entity-level preventative controls
Achieve Sustainable Controls Compliance
Documenting best practices and internal controls, while time consuming, is just the first step. Ensuring that you have a means of maintaining the operational effectiveness of those controls requires a systematic approach. QCSOX provides simple tools for ongoing controls testing, deficiency tracking, and reporting.
- Audit test plans automatically created
- Key control and risk areas coverage
- Streamlined internal audits, whether in-house or outsourced
- Perpetual logs of all tested controls automatically maintained
- Tools for cycle testing implementation
- Significantly reduced external audit fees
Streamline Reporting
QCSOX starts with the end in mind - a report that is simple and easy to understand by the audit committee, CEO and CFO. Behind this summary report are supporting reports that examine the company's internal controls in an appropriate manner to meet COSO and current audit theory standards.
- High-level reporting for key stakeholders
- Detailed reporting for internal and external auditors
- Deficiency assessment and reporting
- Reporting formats include html, Word andPDF
Leverage Convenient Web-based Collaborative Tools
Versioning controls and access to information makes these large scale documentation exercises very challenging. With QCSOX these challenges are overcome by utilizing a secure web-based portal to manage the process in a simple, effective manner.
- Remote access for management, accountants & auditors
- Integration with common desktop applications
- Automated compliance documentation exporting
- Secure distributed collaborative platform
- Integration of process control checklists with QCDocs