Having a robust IT SOX software in place helps you easily demonstrate exactly what must be tested in a given audit, thereby reducing required work. With LogicManager, link your individual controls to their underlying technology. This allows you to determine if there are controls that aren’t related to SOX that do not need to have tests performed on them. Additionally, you can work to determine what your entity level controls are: general policies and controls that are done across the organization irrespective of technology. By identifying which controls are entity level, you can consolidate them together to not have to perform testing at the individual process level.
Save On Auditing Costs
Because external auditors will often charge by the hour, if you are able to prove why certain controls don’t need to be tested or can consolidate multiple similar controls together for one test, you’ll save on auditing costs. Additionally, by developing a program that links underlying technologies to ITGCs, your organization can track changes to processes, as well as data. In documenting these changes, you can then demonstrate components which have not changed. Previous tests can also be leveraged to show process effectiveness, which in turn reduces audit hours and costs.