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FRCompliance Software

Frank, Rimerman + Co. LLP has partnered with ComplianceManager to deliver FRCompliance, an integrated workflow solution for Internal Auditing and the Sarbanes-Oxley compliance process. This software enables companies to manage compliance efforts through document control, continuous auditing, as well as recording and reporting exception events. The solution helps identify, test and remediate key compliance activities via self-assessments and intelligent workflow. Executive dashboards are an integral component within the system and provide real-time transparency to enable management to take immediate action. This software tool is provided to Frank, Rimerman + Co. LLP clients at no additional cost.

In a 2010 study, companies reduced total SOX project hours by up to 58% when migrating from SOX legacy systems or desktop tools to FRCompliance. Project efficiencies were realized from the following product features:


FRCompliance Features Benefits Realized
Compliance testing in one
central tool
Instantly update all documentation centrally, as opposed to manual "double-entry" across multiple documents and templates
Control monitoring Streamline key controls by up to 30% by better rationalizing the risk-control environment
Ease of adoption Reduce SOX project implementation time by up to 2.5 FTE equivalents
Exception management Reduce year-over-year ineffective controls by up to 60% through increased accountability and real time testing visibility
Auditor interface Decrease external audit SOX effort by up to 57%
Customized project reporting Cut time spent reporting exceptions by 80%
Electronic storage of evidence Auditor access to work papers anywhere, anytime
Real-time project dashboard Visibility into project statistics, open items, exceptions, and status reports

 
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