Financial Controls Management  

Today, financial reporting regulations (such as SOX, JSOX and CLERP) are common place in global markets.  Organizations need to certify accuracy of financial statements, indicate significant changes at each reporting period, report management's representation of their controls, and provide auditors with sufficient information so that they, in turn, can attest to the accuracy of the organizations' controls.

In terms of Section 302 of the Sarbanes-Oxley Act for instance, company officers must sign for, and are held accountable for the accuracy of all filed statements. These requirements can only effectively be performed and attested to with the use of a software system.

The new US AS-5 Standards support a risk based approach to financial controls management, and this creates the opportunity to use Cura not only in a financial controls management environment, but also to extend it to link into the greater risk and compliance programs of the organization.

Cura supports the internal processes and its entity assessments allow auditors and financial officers to determine the key risk areas with respect to compliance and thus take a risk based approach, such as those recommended by the PCAOB.

Cura embeds the necessary control monitoring and related business processes across financial, operational and clerical staff in addition to the systems in the enterprise.  Cura can even be integrated with Continuous Control Monitoring solutions, working paper and transaction systems. 

Cura will ensures ongoing compliance through five easy steps:

1. Knowledgebase of assertions, control objectives and control procedures, as well as your own customized data sets which may be particular to your line of business/industry. Cura comes standard with a pre-populated library of entity level and financial control objectives and procedures to enable you to quickly become more productive.
   
   
2. Organizational structure configuration that allows quick set up and ongoing maintenance of the legal structure of the organization as well as departments, areas and processes.
   
   
3. Assessments by internal staff as well as independent assessment by internal and external auditors.
   
   
4. Tasks, notifications and escalations to ensure that work is executed timeously and responsibly by staff.
   
   
5. Reporting that allows management of the overall compliance process, aggregation, slice and dice as well as reporting to board, regulatory authorities and internal/external stakeholders.

Cura for Financial Controls Management can be deployed as a stand alone, hosted or as an integrated module of the Cura Enterprise GRC Suite. Cura Enterprise covers all matters of Governance, Enterprise Wide Risk Management, and Compliance. An investment made in Cura today will serve your organization well into the future as you will be able to leverage Cura's modules across Enterprise Wide Risk Management, Compliance, IT Audit/Security, Control Self Assessment and other uses.

For more information, contact us today at info@curasoftware.com