Archer Financial Controls Monitoring 6.10

Archer Financial Controls Monitoring enables organizations to assess and report on the performance of financial controls across all enterprise-level assets. Building on the foundation established with the Archer

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Benefits of Financial Controls Monitoring

Controls Assurance Program Management use case, you can manage multiple financial compliance projects and track associated tasks such as Provided By Client (PBC) lists, and design and operating tests, as required by the Sarbanes-Oxley (SOX) Act and similar financial regulations. Process narratives and detailed steps can be documented to assign ownership and track changes for each part of the process. In addition, you can easily scope and grant access to external auditors for independent review of your financial compliance program.

With Archer Financial Controls Monitoring, you can manage a single financial control universe by consolidating financial compliance projects into a single platform alongside your other compliance programs. Business owners gain improved visibility into critical risk and compliance data to make fully informed risk-based business decisions in support of financial compliance. It also enhances alignment with extended corporate stewardship, responsibility goals, and other strategic objectives.

For the key features and benefits of this use case, see the Data Sheet on the Archer Community: https://www.archerirm.community/t5/solution-use-case-overviews/archer-solutions-amp-use-cases/ba-p/572564

How Financial Controls Monitoring Fits into a Risk and Compliance Program

Archer Financial Controls Monitoring is a use case in the Archer Regulatory & Corporate Compliance Management solution area. The following sections describe prerequisite use cases, upgrade paths as your program matures, and use cases you can integrate in other solution areas.

Prerequisite and Next Use Cases

The following diagram shows how this use case fits into the overall Regulatory & Corporate Compliance Management solution area.

Pre-requsite

What you have

What's next

Controls Assurance Program Management

Financial Controls Monitoring

N/A
  • Automate testing for process and technical controls
  • Structure controls repository and taxonomy
  • Manage issues for change-related regulatory and corporate obligations
  • Integrate with testing and integration technologies
  • Test and maintain financial controls for regulatory obligations such as SOX
  • Manage issues detected as part of your financial controls program
  • Audit and maintain Provided By Client (PBC) lists
  • Document and maintain process narratives
  • Document and review changes to controls and processes
  

Related Use Cases in Other Solution Areas

[caption] For information on these Archer use cases, see the Archer Solutions Help.

Application

Use Cases

Primary Purpose(s) of the Relationship

Risk Register

Risk Catalog, Top Down Assessment, IT Risk Management, Information Security Management System

You can tie your G/L Accounts or Control Procedures records to related risks in the Risk Register application.

Policies, Control Standards, Authoritative Sources, Corporate Objectives

Policy Program Management

You can tie your controls to the related applications in the Policy Program Management use case to get a holistic view on controls performance over the related standards and policies.

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