eQCM, to manage Governance,
Risk, Compliance and Quality
Internal Control Manager
eQCM Internal Controls Manager (ICM) is a powerful, flexible and adaptable system that allows companies to fully document their internal control environment in response to corporate governance legislation such as the Sarbanes Oxley Act, Canadian Bill 198 or internal governance objectives. Companies can fully document their entities, processes, accounts, control objectives, risks and controls in a hierarchical financial control structure that contains an embedded indicator console.
With ICM, CEOs, CFOs, internal and external auditors, process owners, and other designated individuals can perform all of the required activities to comply with the regulations for the internal controls over financial reporting and disclosure.
Business Applications
- SOX Section 302, 404 compliance
- Canadian Bill 198
- Financial Control Self Assessments
- Financial Control Internal Audits
- Control Documentation and Signoff
- Governance Objectives
- IT Controls
eQCM Internal Controls Value Proposition
- Organizations can model their environment and control frameworks using the flexible financial control structure.
- Organizations can optimize their resources by using a risk-based approach to identify controls needing more extensive testing.
- Push accountability down to the appropriate levels of the organization with configurable review and certifications.
- Management and executives can use the reports to determine areas for control optimization, risk reduction, and assertion vulnerabilities, as well as changes in control effectiveness.
- Model their control environment on selected frameworks, including the COSO Framework.
- Centralize their documentation on internal controls through the mapping of controls and control objectives, risks, processes, accounts, and entities.
- Assemble a comprehensive financial control structure linking their organizational structure, chart of accounts, business processes, control objectives, risks and the controls themselves
- Identify target processes and accounts using a risk based approach to categorize controls and assign testing frequencies, methods, and responsibilities.
- Develop test plans with the possibility of adding configurable questionnaires.
- Create flexible workflows for evaluating the design of controls, testing their operational effectiveness, their certification and sign-off.
- Log issues, rank deficiency levels, assemble and execute corrective action plans.
- Produce management reports and indicators for test results, evaluation of findings, control effectiveness and others.
