iOPEX created an innovative audit program utilizing ETL & RPA for the entire SOX control workflow and developed a tool to carry out quarterly control execution using low-code/no-code platform.
The Client :
The client is one of the world’s leading communications services providers in the US catering to the needs of 200+ million customers subscribed globally.
The Challenge :
The client is a public traded company in the US which puts them in the purview of Sarbanes-Oxley (SOX) Compliance. A manual SOX governance process was set up almost 10 years ago and some of the challenges they were facing before engaging with iOPEX were:
- Increasing compliance hours due to multiple to-and-fro interactions between auditors and owners over email/calls, reworks due to human error, poor control design, etc.
- Rising cost to comply with SOX due to manual intervention, a higher number of FTEs required for testing and validation
The client wanted to run the services with automation to increase efficiency, enhance compliance and reduce effort cost.
To know how iOPEX helped to optimize SOX audit & compliance, download the case study now.