Financial Reporting Compliance Advanced Access Controls Advanced Financial Controls
Financial Reporting Compliance (FRC) is a cloud service that streamlines internal assessments and automates labor-intensive tasks required to complete external certifications for SOX or similar mandates. Integrated with Oracle ERP Cloud, this service protects sensitive data by replacing the use of insecure spreadsheets, emails and documents.
Zain Telecom addresses strategic Risk Management Objectives with Oracle Risk Management
With significant Cloud adoption, Enterprises are increasingly looking to moving their enterprise resource planning (ERP) applications to Cloud and Oracle ERP on Cloud offers a comprehensive suite of modules and capabilities designed to empower modern finance and deliver customer success with streamlined processes, increased productivity and improved decisions. Whilst today enterprises are convinced of cloud’s many benefits including scalability, availability, cost reductions but the benefits should not obscure the need for a strong application security design aimed to deter fraud and ensure that transactions performed in the cloud are appropriate and authorized.
Why SOD Matters
SoD is meant to help ensure responsibilities for essential or consequential business functions are dispersed between more than one person or department. Without this separation, risks ranging from asset theft to fraudulent financial statement manipulation become significantly more difficult to manage. It is a highly complex organization control that’s critical to many other business controls. Understanding that SOD analysis is a business control and that the business—not the IT department—is responsible for ensuring that it is performed at regular intervals adds a valuable layer of risk management.
Oracle’s AAC Offering
Oracle's Advanced Access Controls (AAC) Cloud Service enables continuous monitoring of all access policies in Oracle ERP, potential violations, insider threats and fraud. It automates security analysis to ensure segregation of duties, and compliance with access policies. Organizations can easily upgrade their existing processes by deploying a pre-built library of best practice access controls, or graphically author new controls to suit their changing needs. They can manage all their application access risks, using access controls and compensating monitoring controls with a secure solution embedded within the Oracle ERP Cloud
Advanced Financial Controls (AFC) Cloud Service enables continuous monitoring of all expense and payables transactions in Oracle ERP Cloud, for potential cash leakage, violation of internal policies, process inefficiency, and fraud. It replaces inefficient manual audit and sampling practices with automated controls to identify and remediate incidents.
Zain Telecom addresses strategic Risk Management Objectives with Oracle Risk Management
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