SoD is one the core pillars of Financial Control. Every company has Segregation of Duties as part of their financial management discipline and the principles of SoD are well understood. Most companies have some form of automated analysis approach for financial systems -anything from Excel to sophisticated controls monitoring systems, yet this has not solved the challenge; Why is that?
Our research and extensive work with global companies has demonstrated that the most common challenge and hurdle for companies to overcome is the process and people aspects – these are crucial for sustaining energy and effectiveness in the marathon that is the SoD Compliance Process.
We think it is crucial to hone in on this last mile – an effective business focused SoD remediation process that is sustainable and ensuring we maintain a system and business process balance.
Our panel of experts offered their best practices and guidance based on experiences of working on global implementations of SoD monitoring.
The agenda covered:
- Challenges in SoD
- Simplifying the resolution path
- Understanding the process
- Roles, responsibility, accountability
- Paving the way to ‘stay clean’
- Thoughts for the road
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