One requirement of Sarbanes-Oxley compliance is to put controls in place to prevent material reporting errors, which typically involves minimizing excessive user access to your business-critical applications.
Excessive user access can also lead to fraud, business process disruption, and theft of intellectual property. However, the controls necessary to minimize these types of risk are not necessarily the same as those that are used to comply with Sarbanes-Oxley. In other words, your time and focus should be spent on your major priorities.
The first step to selecting GRC software, whether for risk management or SOX compliance or any other purpose, is to define your needs: What do you need the software to do and what are the priorities?
The right software can help you manage access risk across many areas of the business. In fact, it is debatable that the typical organization can manage access risk properly without the right software.
Norman Marks is an expert in internal audit, risk management, and governance. In his eBook, Key Considerations When Selecting GRC Software, Marks talks about how to simplify your controls and other considerations when choosing your GRC software, including:
- Defining your needs
- Letting the solution design drive the choice of technology, not vice versa
- Deciding who will be responsible for managing the business risk arising from inappropriate access
- Determining whether the GRC solution will look at user access risk related to a single software package or across a combination of software applications
And much more!
By paying attention to the provisioning process, you are in a better position to prevent excessive access being granted. This means IT and management won’t have to spend many hours chasing and correcting exceptions only to see new ones surface every month.
Download Key Considerations When Selecting GRC Software to learn more.