Skip to Content

Archived discussions are read-only. Learn more about SAP Q&A

Sorting out Your SOX ...NetWeaver and corporate governance

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
Not what you were looking for? View more on this topic or Ask a question