SOX Compliance Software 2386

  • We are currently using Sharepoint for our sox compliance efforts, but my manager has asked me to research some other potential software that we could implement for sox compliance purposes. Is this recommended or is Sharepoint enough?
    What software are your companies using and how has it worked out for you guys? Would you recommend it? Pros and cons?
    Also, does anyone have any experience with PolicyIQ?

  • We started with Sharepoint, looked at 3rd party software and ultimately decided that each process group was responsible for maintaining their own documentation of processes, controls and testing along with their other accounting support workpapers.
    When looking for software, ensure that you are comfortable with your own way of doing things and then look for software that will work with you without requiring you to change how you operate.
    There are no standards for workpaper documentation related to SOX. Do whatever works best for your company.

  • Hi - Below are some of the approaches used:
    – Simple Windows Network file shares (special libraries with security in place) to share confidential documents. The price is ‘free’ in essence, but it does require permissions being granted as team members change information. There’s also issues in multiple folks trying to update (as only one person can do so at a time)
    – Sharepoint repository This allows a more controlled check-in and check-out process for updates or even read access

  • Ok I know this response is way late, but maybe someone will find it useful. I have used PIQ, SAP Governance module, and Teammate, as well as the good ole fashion sharepoint and network drives. I would say that PIQ has been the best for SOX purposes, but still exploring options with Teammate. SAP, well if you use the App already it’s nice…
    Right now as far as ease of use and flexability I would say PIQ. Also shorter set up…but sharepoint can be used as well.
    If you want good reporting and metrics, I would move to an application.

  • We also use Policy IQ, but just as a repository/database. However, I realize that there are a lot more functionalities that PIQ offers (e.g. a central place for corporate policies, automated reminder for management approval/review of documents, etc.) than we are using, so I am wondering if other companies are taking advantage of the functionalities, or merely use it as a repository like we do.
    Cassandra: Do you use Policy IQ other than just as a repository?

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