Sorting out Your SOX ...NetWeaver and corporate governance

[Former Member]

SAP® software for managing compliance with the Sarbanes-Oxley Act works with the data analysis, reporting, financial consolidation and risk management capabilities in mySAP™ ERP to provide a complete, integrated solution for ongoing Sarbanes-Oxley-compliant accounting, reporting and compliance process management. SAP customers are using these key components of mySAP ERP to help them manage internal controls in order to facilitate their compliance with Section 404, a major provision of the Sarbanes-Oxley Act, requiring that management report annually on the effectiveness of internal controls for financial reporting and that external auditors confirm management’s assessment.

The SAP software’s key components are designed to improve and streamline the auditing process, internal controls management and “whistle blowing” procedures. The software’s audit information system provides easy access to key reporting controls, such as segregation of duties to reduce employee error and fraud and reconciliation of discrepancies between sub-ledgers and general ledgers. The results of these reporting controls can be documented in the management of internal controls application, which leverages the workflow capabilities of the SAP NetWeaver™ platform to support a proven, internal-controls review and problem-resolution process, significantly reducing administrative costs related to compliance. “Whistle blowing” functionality enables employees to anonymously report accounting irregularities, a Sarbanes-Oxley Section 301 requirement.

The SAP software’s key components are designed to improve and streamline the auditing process, internal controls management and “whistle blowing” procedures. The software’s audit information system provides easy access to key reporting controls, such as segregation of duties to reduce employee error and fraud and reconciliation of discrepancies between sub-ledgers and general ledgers. The results of these reporting controls can be documented in the management of internal controls application, which leverages the workflow capabilities of the SAP NetWeaver™ platform to support a proven, internal-controls review and problem-resolution process, significantly reducing administrative costs related to compliance. “Whistle blowing” functionality enables employees to anonymously report accounting irregularities, a Sarbanes-Oxley Section 301 requirement.

[Former Member · Accepted solution]

Hi,

I am currently working on MIC Component.I am very new to this area. I am basically involved in developing Audit Reports . On these Areas we are working basically

CGV-FIN-MIC-REP

CGV - Corporate Governance

FIN - Financials

MIC - Management of Internal Controls

REP - Reporting

Could anyone can give brief overview on the same or any documents pertaining to the same.

With Best Regards

Mamatha.B

[MJUDI]

Hi Darrell,

I'm working on a pre-sale activity for one of our customers here in Toronto. Since I'm not an expert in MIC as of yet, I was asked a question in one of our conference calls with the customer, do we need BW with MIC? I know that there is an extensive data model for MIC in BW but you can also use MIC's information system. The customer wants to know if they can use MIC only without BW.

Thanks,

M. Judi

[Former Member]

Hi Mohamed,

This following is from the Supporting SOA Compliance -- MIC document found in the SAP Service Marketplace at the quick link /SOA:

The different end-users of MIC are interested in varying types of information in differing

depths of detail; the MIC Reporting functionality is a key part of the total MIC functionality.

MIC offers a large number of pre-defined reports as well as an optional link to the SAP

Business Information Warehouse (SAP BW) which enables fully flexible reporting.

Please note that using SAP NetWeaver BI is optional for MIC.

Regards,

Katie Beavers

SAP NetWeaver Product Manager