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Reporter sent this to me – His words: “Good story about Sarb Ox, moderately interesting, but they buried the lead. I don’t want to waste time trying to find it.”
Can you find it?
I’ve deleted the name of the company to save someone’s job. “Company Name Deleted” is the company that issued the release, and “Blank” is the company with whom they’re working.
BLANK CHOOSES COMPANY NAME DELETED FOR CONTINUOUS CONTROLS MONITORING AND COMPLIANCE SOLUTION
Vancouver, BC, CANADA – May 25, 2005 – COMPANY NAME DELETED Services Ltd. today announced that BLANK Communications Inc. is using COMPANY NAME DELETED Continuous Controls Monitoring (CCM) technology within two critical business processes – its overall purchase-to-payment cycle and its purchasing card program. These CCM solutions allow BLANK to automate internal controls testing, enhance corporate oversight, and support regulatory compliance for Sarbanes-Oxley Section 404. COMPANY NAME DELETED is the leading global provider of business assurance analytics technology for financial management, compliance professionals, and auditors.
COMPANY NAME DELETED solutions are designed according to the Committee of Sponsoring Organizations (COSO) framework, which is recognized as the internal controls standard for supporting Sarbanes-Oxley Section 404 compliance. Embedding sophisticated analytics into BLANK’ day-to-day operations, the COMPANY NAME DELETED CCM Purchase-to-Payment and Purchasing Card modules allow the organization to efficiently access, compare, and analyze data from multiple systems across the enterprise, and independently validate transactions for compliance with BLANK’ corporate controls and business rules.
BLANK is the second largest telecommunications company in Canada, with $7.8 billion in annual revenues and is listed on the New York Stock Exchange. Its Accounts Payable division is committed to innovation and efficiency, and to promoting high standards of accountability and fiscal transparency throughout the organization. With the COMPANY NAME DELETED solutions, BLANK can now efficiently monitor a wide range of transactions daily, detect errors, exceptions, and control weaknesses quickly, and resolve potential problems before they escalate.
“Continuous monitoring significantly enhances our overall level of business assurance. By reviewing our transactions on a regular basis, we know that every payment is legitimate and represents a valid business purpose. With the success in recovery of duplicate payments since implementation, we’re on track to pay for our investment in COMPANY NAME DELETED technology within six months,” says Gary Silsbe, Director of Operational Excellence for BLANK.
Building on more than 18 years’ experience working with the audit and controls professions, COMPANY NAME DELETED CCM solutions extend best practices in controls compliance and transaction analysis into core business processes.
“We are pleased BLANK is using COMPANY NAME DELETED’s CCM solutions,” says Harald Will, COMPANY NAME DELETED President and CEO. “Continuous monitoring is gaining widespread acceptance as an effective way to leverage technology for more sustainable compliance. It enables organizations to automate the labor-intensive testing of internal controls, while highlighting areas where you can gain further operational efficiencies and generate significant ROI by containing costs and minimizing revenue leakage.”
About COMPANY NAME DELETED Services Ltd.
COMPANY NAME DELETED Services Ltd. is the leading global provider of Business Assurance Analytics to financial executives, compliance professionals, and auditors. Combining market-leading data analysis software and professional services expertise, COMPANY NAME DELETED solutions give organizations confidence in the accuracy and integrity of the transactions and the effectiveness of the internal controls underlying increasingly complex business operations.
Since 1987, COMPANY NAME DELETED’s proven technology has enabled financial decision-makers to assure controls compliance, reduce risk, detect fraud, minimize losses, enhance profitability, and achieve fast payback. COMPANY NAME DELETED delivers its solutions in more than 130 countries through a global network of COMPANY NAME DELETED offices and channel partners. Our customers include 70 percent of the Fortune 500 companies and over two-thirds of the Global 500, as well as hundreds of national, state, and local governments, and the Big Four public accounting firms. For more information visit www.COMPANY NAME DELETED.com.
