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Auditing and GRC automation in SAP by Maxim Chuprunov

By Maxim Chuprunov

Over the previous couple of years, financial plan scandals, situations of fraud and corruption, info safety violations, and different criminal violations have resulted in a variety of legal responsibility instances, damages claims, and losses of acceptance. As a response to those advancements, a number of laws were issued: company Governance, the Sarbanes-Oxley Act, IFRS, Basel II and III, Solvency II and BilMoG, to call quite a few. during this booklet, compliance is known because the approach, mapped not just in an inner keep an eye on procedure, that's meant to assure conformity with criminal requisites but additionally with inner guidelines and company goals (in specific, potency and profitability).

The present literature basically confines itself to mapping controls in SAP ERP and auditing SAP platforms. Maxim Chuprunov not just addresses this topic yet extends the purpose of inner controls from criminal compliance to incorporate potency and profitability after which way past, simply because a uncomplicated knowing of the approaches fascinated by IT-supported compliance administration strategies should not added in addition to the software program. beginning with the necessities for compliance (Part I), he not just solutions compliance-relevant questions within the kind of an audit consultant for an SAP ERP process and within the kind of dangers and keep watch over descriptions (Part II), but additionally indicates how you can automate the compliance administration approach in response to SAP GRC (Part III). He therefore addresses the present want for ideas for enforcing an built-in GRC approach in a firm, in particular targeting the continual regulate tracking subject matters.

Maxim Chuprunov usually pursuits compliance specialists, auditors, SAP undertaking managers and experts answerable for GRC items as readers for his publication. they are going to locate vital info for his or her day-by-day paintings from the 1st to the final web page. moreover, MBA, administration details process scholars in addition to senior managers like CIOs and CFOs will discover a wealth of important info on compliance within the SAP ERP setting, on GRC as a rule and its implementation in particular.

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This regulation goes considerably further than the requirements in Section 302. In connection with US SOX, instructions are available on how to implement ICS requirements (for example, PCAOB Standard AS 5 and the interpretive instructions of the Securities and Exchange Commission, SEC – to a large extent identical to the auditing standard). These instructions give management some leeway when selecting relevant control mechanisms. They prescribe a top-down, risk-based selection of controls (the term scoping is often used here).

We focused on the objectives “correct reporting” and “compliance with legal regulations” (the ICS term and these objectives were explained in Sect. 2, “Internal Control System (ICS)”) as well as on the efficiency of business processes. Performance measurement systems ICS/GRC vs. Balanced Scorecard and performance measurement systems 18 Chapter 1 ⋅ Legal Requirements in ICS Compliance Efficiency or profitability may not necessarily be connected to the term ICS in a “traditional” consideration, but in our opinion that is unjust.

Despite the fact that the provisions of the Preda Code are not binding, the code requires that all listed companies disclose whether the code has been complied with or not as part of the annual report. This comply or explain principle gives organizations the flexibility of following principles of corporate governance in accordance with their own special features. 9 Spain In Spain, a special working group was set up with the objective of supporting the Spanish Securities Markets Commission in an advisory capacity – in particular, with regard to harmonizing reporting requirements for listed companies.

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