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Compliance Optimization Newsletter
October 2007
Results of 2007 Aline Risk & Control Optimization Conference
The Team at BI International hosted our First Annual Aline Risk & Control Optimization Conference September 19 & 20, 2007 at the Hotel Du Pont in Wilmington, Delaware.
The event was a big success with the discussion on utilizing AS-5 receiving an overall satisfaction rating of 94% from our attendees.
Wednesday night's Gala Dinner at The Brantwyn Estate located at the Du Pont Country Club was a feast of great food, wine, and music. We would like to extend a special thanks to Tom McCarthy, Deputy Director of the Delaware Economic Development Office, for his warm welcome. The remainder of the evening featured speakers from both sides of our business; clients and partners, as well as great support from the venture capital and business development communities of Delaware and Pennsylvania, thank you to everyone.
Non-Accelerated Filers
Where are you in your SOX planning process?
1. Have you developed a strategy?
2. Do you have controls in place today?
3. Do you have enough in-house resources?
4. Have you started the documentation process?
5.Has someone been assigned responsibility for your SOX program?
6. Are using Microsoft Documentation or an automated tool?
Take our quick survey to find out what steps you can take to comply by 12/31
Information Sessions
Non-Accelerated Filers: Jump Start Program
The Compliance deadline is just 12 weeks away...No Problem! There is a solution that will help you define your path to compliance in only 2-3 weeks. There will be two virtual information sessions held this month titled: "Countdown to Compliance: Jump Start Program."
Where you can learn a simple approach to:
1. Use a Best Practice Risk and Control Framework, instead of starting from a clean slate
2. Define the appropriate scope for Your business using an Automated Top-Down Risk Based Tool.
3. Identify the documentation gaps vs. the Best Practices.
4. Develop a simple documentation and testing plan to complete & comply by 12/31/2007
Accelerated Filers: Realizing ROI from Optimizing your SOX Framework
Leverage New SEC guidance and Best Practices to Streamline and Optimizeyour current SOX Program. Through utilization of an Accelerated-Filer Optimization Solution; learn how our methodology and product examples, can define your path to optimization.
Accounting / Consulting Firms: Want to drive Non-Accelerated Filers to your door?
Many Non-Accelerated Filers have been slow to get started on their SOX compliance work. Now that they are under the gun, there is a tremendous opportunity for firms that can deliver a complete, fast, and affordable solution. The Aline™ Complete SOX solution offers you the tools, libraries, work plans, analytic reporting and methodology that augment your expertise, so you can win more prospects and create high client satisfaction by generating real value from proposal to delivery. And you can provide this solution at no additional cost to you.
Partner Portal Channel Partner Portal Update:
BI International continues to enhance our Channel Partner program to help our partners increase customer acquisition, revenues and market share. Many of the enhancements are based on suggestions from our existing partners and we welcome the feedback from the partner community.
Within the next few weeks the new “Aline Channel Partner Portal” will be operational, giving our Channel Partners direct access via a “Partner Login” to Aline Marketing Materials and PowerPoint presentations that can be modified for each Partner based on needs and opportunities.
By Partnering with BI International you will join forces with a compliance and business analytics technology leader that can provides you with a “state of the art” SOX Compliance Platform, product training and focused sales and marketing support which addresses not only SOX and Internal Audit, but soon, Enterprise Risk Management (ERM) and IT Governance. All applications delivered seamlessly over the Aline Platform which is implemented as a “Software as a Service” (SaaS) model.
BI International continues to deliver to our Channel-Partners the recognized “Aline4Sox” Solution for Accelerated and Non-Accelerated Filers, and a reputation for providing outstanding business analytics, quality compliance technology and SOX optimization. All of which is reflected in the recognition we've received from industry analysts and our valued Partners.
Partnership
By partnering today, with BI International, your company will be provided with the “competitive edge” in SOX Compliance, IT Governance and ERM. Shortly, an “Aline Partner Corner Portal” will be available on the Aline4Sox website giving our Channel Partners direct access to all of the Aline PowerPoint presentations and marketing resources. The BI International Aline Channel Partner Program recognizes your expertise, rewards you for your impact in the compliance marketplace, and delivers tools and resources to help your organization become even more profitable regardless of its size or focus (SOX Consulting, Audit Services and Reviews, Compliance Readiness, VAR and ISV).
Growing your business is the accomplished by acquiring new customers and expanding the engagement “footprint” for current clients. Creating new relationships and fostering existing ones can be accomplished quite rapidly by utilizing the Aline platform technology.
Learn how to accelerate your consulting, audit and software development “footprint” by becoming an Aline Channel Partner.
For more information email Bob Goldstein
 BI International News
*Forum Consulting Secures Three Clients Using Aline
*Audit Leverage Uses Aline to Integrate SOX and Internal Audit
*Brand Services, Inc. selects Aline4SOX to optimize SOX Compliance
Upcoming Events
*Aline Wine Tasting at Moore Brothers in NYC
The Team at BI International will be hosting a tutored wine tasting at Moore Brothers Wine Company in New York, New York on October 9, 2007 from 6:00 PM to 9:00 PM.
*First Annual Golf Outing with Dick Vermeil
AC Lordi Consulting and Peopleflex Accounting Professionals, in conjunction with BI International will be hosting a First Annual Golf Outing with Dick Vermeil
Ask an Expert!
This section gives you the opportunity to ask a Sarbanes-Oxley implementation and operation expert any questions you may have. For the month of August we have chosen to include the questions that were asked the most.
Q. As an Accelerated Filer, we are now in our 4th year of compliance with the Sarbanes-Oxley Act. We have invested a lot of time and money into our current framework and are struggling to understand how to best leverage what we have while converting to the new Top Down Risk-based approach as outlined through AS5. How can Aline take our current framework and integrate it with AS-5?
A. Aline can load your existing framework data within a matter of days. All controls and process narrative steps can be loaded and associated to the accounts, control objectives and risks already designed within your framework. As soon as this data is in Aline you can start to automate AS-5 through the methodology developed within Aline.
The Top Down Risk-based methodology in Aline has three components:
1) Aline can capture 4 separate risk assessments. Taking risk factors directly from AS-5, an assessment of risk can be documented on each and every Account, Assertion, Process and Control outlined within your existing framework. Each assessment is attributed a score to evaluate the relative risk. Multiplying the Account and Assertion scores you obtain your Financial Reporting (FR) risk. Multiplying the Process and Control scores you obtain your Internal Control (IC) risk. Adding your FR and IC risk together you obtain your Internal Control over Financial Reporting (ICFR) risk. The factors and scoring can be varied within Aline to reflect your risk profile.
2) An important step in the Top Down Risk-based approach is enabling a rationalization of your existing control framework based on identifying those Controls that address only those Assertions that are relevant to each of your Accounts. Sourcing these Controls enables you to focus on identifying those controls that give the most coverage on the relevant Assertions. Aline automates the capture of this rationalization process.
3) The last component of the methodology within Aline is bringing the Risk Assessments together with the rationalization process to determine the Testing Strategy required for your organization to validate that the relevant Controls by Assertion and Account combinations identified are monitored appropriately. The Nature, Timing and Extent of the testing strategy can be varied within Aline to reflect your risk profile.
The Result: A Risk and Control Scope that is streamlined and optimized for YOUR business resulting in the reduction of internal and external compliance costs!
- Justin Craig, Director, Product Management & Client Relations, BI International
Please submit your questions at our "Ask an Expert" page, just follow the "Learn More" link.
About the Author
Justin Craig is Director of Product Management and Client Relations for BI International where he has developed custom compliance analytics for numerous Aline clients to support optimization of control frameworks.
He joined BI International in 2006, and is responsible for the product management of Aline4SOX, working directly with current and prospective clients on technical and functional issues.
Prior to his affiliation with BI International, Craig played a key role in Avaya’s (NYSE / $5.1 billion revenue) Sarbanes-Oxley program management office, managing the company’s SOX program for payroll, human resources, financial reporting, and treasury processes. Previously, he held several high-level and executive positions at AT&T, including Business Controls Manager, Acting Chief Financial Officer for AT&T Easylink services in Sydney, Australia, and Controller and Financial Analyst.
Archived Webinars
Non-Accelerated Filers: Countdown to Your Compliance
Accounting / Consulting Firms: Attaining Trusted Advisor Status
Accelerated Filers: Realizing ROI from Optimizing your SOX Framework
Demonstration
If you would like to arrange a live demonstration of the Aline™ Platform, please follow the link below or call our toll-free number 1-877-254-6324.
SOX News
SEC close to finalizing rules to help small public companies, private firms
Whitepaper available for download!
ERM: A Pragmatic Bottom-Up Approach (To Parallel the Top-Down)
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