New Offering for Audit Executives Provides Immediate Visibility Into Potential SOX Controls Risks and Deficiencies
ReliantView from Reliant Solutions
- ReliantView from Reliant Solutions provides automated testing on 100% of transactions in targeted processes
- Potential risks and errors identified and presented in detailed reports
- Quotes from Jeff Miller, KMJ Corbin & Co. and from Reliant CEO, Dipak Shah
- IDC data and market information
- Educational Webinar on October 29th at 10:00 AM PDT
Laguna Niguel, California – Oct. 20, 2008 – Reliant Solutions today announced the immediate availability of its newest offering, ReliantViewTM, a two-day service providing audit executives with automated testing of transactions to identify control exceptions and potential risks within key processes. These include; Order-to-Cash, Procure-to Pay, Finance and Accounting, Inventory and IT/GCC. ReliantView identifies potential risks, fraudulent activity, human oversight and errors and presents the findings in detailed reports, providing solid guidance for the internal testing and remediation efforts to follow.
"As companies look to automate previously manual audit processes, cost, coverage and efficiency are the three critical issues in the purchase / decision process, "said Jeff Miller, Business Advisory Services Partner-in-Charge at KMJ Corbin and Company, LLP, one of the fastest growing multidisciplinary audit, tax and advisory firms in Southern California. "A service such as ReliantView helps organizations test the waters before diving into what is a substantial change in the way audit is conducted. When they see the results, it can quite literally be an eye-opening epiphany, validating a move towards a broader adoption of automation."
Pricing for ReliantView is $15K. Customers can select up to thirty controls from a predefined library of common SOX, financial and IT controls for SAP or Oracle Applications. The standard service is conducted over two days. Custom controls assessment services are also available.
"Through the ReliantView service, they will see the efficiency and assurance gained from automating their controls and from using continuous monitoring to better identify and mitigate risk. Once they see the benefits from a small set of controls, we’re sure they’re going to want to expand these benefits to their entire controls environment."
On October 29th at 10:00 AM PDT, Reliant Solutions will host a webinar to discuss ReliantView and the automation of audit and risk management. Registration for this webinar is at www.reliantaudit.com/events/.
According to a recent IDC report, 70% of organizations hold internal audit responsible for internal controls monitoring and testing. IDC states "This evolving role expands the purview of internal audit, in particular moving away from periodic reviews of a sample of transactions to continuous monitoring and assurance across all transactions based upon assessed risk." Further, according to IDC "…companies with revenue in excess of $1 billion should expect to spend between 0.03% and 0.2% of annual revenue for an effective internal audit function to support Sarbanes-Oxley requirements, with an even higher percentage expected for smaller companies." For the complete IDC report please visit http://www.reliantaudit.com/idc/.
About Reliant Solutions, Inc.
Reliant provides software and consulting services for chief audit executives who want to reduce the high cost, complexity and uncertainty of enterprise-wide audits. To effectively manage risk, auditors need efficient audit processes, reliable test data and continuous visibility into risks, controls and audit results at any time. Reliant delivers all of these and more with the only continuous risk management solution for auditors. With Reliant, you can continuously monitor transactions, streamline audit operations, automate control testing and remediation, and implement a dynamic risk framework that shows up-to-the-minute status of audit programs. Using pre-packaged, standards-based controls for compliance, operational and financial audits, Reliant helps companies to reduce risk while gaining efficiency, quality, insight and assurance throughout the audit process. For more information go to www.reliantaudit.com.
Media and analyst contact:
Ken Montgomery, Montgomery Pacific Group for Reliant
kenmontgomery@montgomerypacificgroup.com
213.500.8355
