Improving the SOX Risk Assessment Process
Results using Wdesk
- Wdesk is flexible and adaptable to any risk assessment or scoping framework and methodology—with no IT involvement.
- The solution is easy to adjust as business needs or risk environments change throughout the year.
A single source of truth
- Wdesk provides a single location for all SOX documentation, including risk assessment information, that's linked together to allow for seamless updates of additional documents, like management reports and presentations.
- The internal control and internal audit teams can access and work in planning documents and other SOX documents simultaneously.
Increased collaboration and efficiency
- Wdesk facilitates collaboration between internal controls, internal audit, and risk owners by allowing teams to ask for more feedback on risks in a quick and easy manner—informing judgement and improving decisions during the planning period.
- The collection and aggregation of risk assessments is now automated. The process is streamlined, allowing more input, more frequently.
Increased visibility and control
- By working with a flexible framework, the internal control and audit teams built a mature and repeatable process. Wdesk will adapt and grow with the company as the teams' process evolves and their risk approach changes.
- Wdesk provides more visibility into the risk process. By analyzing risks more frequently, the teams are able to ensure they cover their materiality and mitigate risks more efficiently and effectively throughout the year.