Leading Semiconductor Assembly Equipment Supplier, Kulicke & Soffa, Chooses BWise for Sarbanes Oxley Compliance Initiative as Part of GRC Framework
New York, NY…. December 19, 2007 – BWise, a leading provider of governance, risk and compliance (GRC) software solutions, today announced that Kulicke & Soffa Industries, Inc. (“K&S”), the world’s leading supplier of semiconductor assembly equipment, tools and materials, has chosen BWise for its Sarbanes Oxley (SOX) compliance solution as part of its GRC framework. After working successfully with BWise for the past three years to address its IT governance requirements, Kulicke & Soffa is now implementing a broader GRC initiative.
Under the terms of the agreement, K&S will utilize BWise to enhance its internal control framework to enable compliance with numerous regulatory requirements, beginning with Sarbanes-Oxley (SOX). The solution also includes control testing as required by Section 404 of SOX, which requires management and the external auditor to report on the adequacy of the company's internal control over financial reporting. Control assessments will give K&S a more efficient way to conduct this necessary financial reporting with a thorough evaluation against fixed controls.
“Kulicke & Soffa, an established and highly successful business, needs to be assured of efficient, full control over its financial records and related reporting to ensure SOX success,” according to Robert Pijselman, Chief Executive Officer of BWise. “As a long time customer of BWise, K&S has already established a solid GRC foundation. With this newest purchase, K&S can continue to strengthen its internal control framework backed by highly accurate and user-driven testing processes that will ensure confidence in SOX compliance and related GRC processes.”
“Our requirement to monitor and manage governance, risk and compliance extends beyond SOX regulations as our business grows,” stated Joshua Golden, Director of Internal Audit at K&S. “When we looked for a GRC solution that best matched our needs we chose BWise – given its significant market experience and proven track record of giving companies like ours the ability to easily and effectively enhance a GRC management infrastructure. We look forward to utilizing the benefits BWise offers for improving GRC management across our business.”