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Sarbanes-Oxley and other Regulatory compliance - How Process Mapping can help

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Regulatory compliance, of one form or another, has been required in business for many years. This is one key reason why processes in the Operations side of businesses are almost universally documented. The emergence of Sarbanes-Oxley and similar regulatory legislation has extended the onus to comply in to the Commercial areas of the business, particularly in Finance and IT. Key compliance processes must be documented and incorporated in to Risk and Compliance Matrices (RACMs). Managers must provide proof to the company's external auditors that not only are they aware of the processes, but that their staff have been following them. Following the process is not enough, the auditors require proof that the processes have been followed.

Process Maps can assist with this. If each process is clearly mapped in a graphical format, staff have a ready reference point. Daily/Weekly/Monthly checks will be documented as part of the process, not as a stand alone activity.

RACMs can be flow-charted with key documents attached to individual tasks, providing a quick reference to both new and existing staff. If the process is clearly mapped out, it is much more likely to be followed, with no short cuts or 'grey areas'.

This is extremely reassuring to the external auditors. It makes their job easier (and quicker) and gives them some comfort that the company is managing its compliance in a highly professional manner.

Cost savings: Assume that a typical external auditor is charged out at £1,500 per day. Two auditors are on site for 5 days. Two audits per year. Total cost = £30,000 ( a very conservative estimate!).

Comprehensive process maps and flow-charted RACMs can enable the auditors to complete their audit in 4 days. A saving of £6,000 per annum.

Reassured auditors = Peace of mind - Priceless!

If you would like to find out more about our cost-effective process mapping service, please contact us:

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Tel: 07766 56 52 35
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