BWise is the only converged tool that offers both a solution for Sarbanes-Oxley and Basel II
COMPLIANCE MANAGEMENT WITH OPEN ASSESSMENTS
The accounting scandals widely broadcast in the media in recent years have increased the importance of compliance within an organization. To an increasing degree, companies are being pressured to account to their stakeholders. Standards have been implemented for this purpose in the form of accounting rules that are internationally applicable. Regulators also impose rules to ensure that business risks are minimized and the quality of service is guaranteed.
For example: according to a KPMG study performed in 2006, companies must satisfy an average of 70 laws and regulations. Every financial institution and all companies related to that sector now have compliance rules that prescribe not only a code of conduct for employees, but also how compliance is to be verified.
In order to demonstrate that your organization satisfies all relevant laws and regulations, insight must be given into the relationship between those laws and regulations and your organization’s business processes. You must therefore be able to precisely indicate how and where you comply. Changes in your own organization and in the laws and regulations make this highly complicated. After all, you must satisfy the compliance issues not just once, but continually. If a regulator wants information, you must be able to provide it in the short term.
The BWise solution helps organization to become compliant more easily, and even more importantly helps streamlining the compliance processes by addressing the daunting compliance convergence task.
