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Enterprise Risk Management Financial Close Monitor Advanced Controls Catalog Enterprise Audit GRC Monitor

FulcrumWay Leading Provider of Enterprise Risk Assessment Mitigation and Remediation Solutions

Copyright ©. Fulcrum Information Technology, Inc. Give me a lever long enough and a fulcrum on which to place it, and I shall move the world - Archimedes

Leading Fortune-500 Global Property Insurance Firm

Improves Enterprise Audit

www.fulcrumway.com Copyright © FulcrumWay

FulcrumWay Intelligent, Integrated Instant Risk Management™

FulcrumWay: is the #1 End-to-End Provider of Enterprise Risk Management Expertise,

Solutions and Software Services for Oracle EBS, PeopleSoft and JDE customers with

over 200 Fortune-500 to Middle Market clients. Since 2003, we have successfully

assisted companies across all major industry segments.

Expertise: Risk Advisory Services. Advanced Controls Design for Enterprise Business

Applications. Best Practices for Risk Mitigation and Internal Controls Automation.

Audit, Compliance, Financial, Enterprise and Operational Risk Assessments. Risk

Remediation Services such as Segregation of Duties.

Packaged Solutions: FulcrumWay is the #1 choice of Oracle customers for Oracle GRC

Manager, GRC Controls and GRC Intelligence/OBIEE software implementation. Oracle

has certified us as the only partner with Accelerators for Oracle GRC. We also provide

Managed Services and Hosting for Oracle GRC applications.

Software Services: Risk Management Tools: Enterprise Risk Manager, Financial Close

Risk Manager, Risk Based Audit Manager, IT Risk Workbench, and Advanced Controls

Catalog. Data Management Tools: Rules Repository, DataProbe™ adaptors and Data

Hub.

USA Presence: Privately held Delaware Corporation with US offices in New York City,

Dallas and San Francisco

International Presence: in Chennai, Dubai, Kampala, London, Rome, Santiago,

Singapore

Introduction


Government Oil and Gas

Healthcare

Communications

Financial Services

Industrial

Equipment

Natural

Resources

Manufacturing

Retail

FulcrumWay Clients

High Tech

Our Experience

Media and

Entertainment Life Sciences

http://www.rd.com/

http://www.alliedhealthcare.com/index.aspx

http://www.arvinmeritor.com/

http://www.semiconductorstore.com/pages/asp/supplier.asp?pl=0133

http://www.integralife.com/index.aspx


FulcrumWay™ Insight

Thought Leadership

Our Experience

Co-Authored GRC Book: First book on GRC for Oracle Applications

Executive Round Tables – GRC Solutions for Energy Industry, Houston, November 2012

OAUG GRC Solution Lab - April 7th – 11th Denver: GRC Case Studies and Best Practices

IIA - Presentations - Top Five Reasons for Automating Application Controls

Collaborate 13 – GRC Client Appreciation Dinner April 9th , 2013 Denver

Webcasts – GRC Best Practices, Trends and Expert Insight

Oracle Open World – Annual GRC Dinner on September 23rd , 2013 W Hotel San Francisco

LinkedIn –FulcrumWay Risk, Compliance and Audit Software Group

YouTube Podcasts – FulcrumWay Instant Insight in 10 min or less


Assess Risk

Detect

Violations

Analyze

Issues

Remediate

Issues

Implement

Corrective

Actions

Monitor

Application

Environment

Scope

Application

Controls

Sample

ERP

Data

Manage

Exceptions

Setup

Preventive

Controls

IT/Business

Control Teams Application Controls

Manager

Application

Security

Administrator

Application

Controls

Manager

Establish

Test

Environment

FulcrumWay™ Application Controls

Management Best Practices


Business Rules Repository - Advanced Application Controls

Financial Close Management Operations Management

Enterprise Risk Monitors

FulcrumWay Enterprise Risk Management Services

Risk Assessment Enterprise Survey Key Risk Indicators

Task Monitor

Variance Analytics Reconciliation Analytics

Enterprise Audit Manager Audit Planner

Controls Verification

HCM/HR Controls : (HR,PR)

Inte

llig

en

t In

teg

rate

d In

sta

nt

Compliance Certification

Risk Based Audit Management

Financial Controls: (GL,AP,AR,FA,CM)

Distribution Controls: (OM,INV,WMS,PO)

Supply Chain Controls : (ENG,QP,WIP,BOM)

Access Monitor Configuration

Monitor Incident Monitor

Database Vulnerabilities

GRC Monitor – Enterprise Data Security

Master Data Monitor

Control Analytics

Incident Monitor

Overview

FulcrumWay Core Technologies

DataProbe DataHub Monitors Rules Repository Rules Engine Transmitters


Enterprise Audit Improves

Internal Audit Effectiveness

Company Overview

Provides property and casualty and specialty insurance to individuals and businesses around the world.

Employees- 12,000, in 29 countries

PeopleSoft

Audit Challenges/Opportunities

Solution for both SOX and Internal Audit

Internal Audit spending 80% resources on SOX Audits in North America.

Limited management visibility into enterprise risk based on financial, operational and IT risks.

Risk Assessment Process - interviews with limited number of managers.

Significant variation in Risk Matrix, Audit Process and Reporting by region.

Process Owners demand better visibility into controls evaluations prior to SOX certification

Internal Audit application unable to support multiple compliance frameworks

Lack of Management Dashboards on deficiencies, risks and audits.

Solution

Enterprise Audit Manager

GRC DataHub

Results

Auditable, repeatable Section 404 compliance process

Solution being used for Management Self-Assessment and Internal Audit work

Increased audit coverage by 40% with automated Process Owner self-assessment based on self-service portal with email notifications

Management Dashboard with global risk views and drill down capabilities.

Improved Audit Staff Resource Utilization by 35% with audit planning and scheduling tool

Reduced Issue-Remediation cycle time with reminder notifications to process/control owners

Centralized audit work-papers to improve audit review and walk-through process

Improved audit testing with sampling PeopleSoft and other system transactional data.

Client Case


Integrated Audit Life Cycle Management with Continuous Monitoring

Risk Assessment:

Apply qualitative and quantitative analysis

Reduce the impact and frequency of loss events

Enterprise Audit Manager

Enterprise Audit

Manager

Planning: Establish scope and objectives for audit

engagements. Maintain budget, timeline and

resources assignments

Fieldwork: Evaluate internal controls in the

audit plan to maintain effectiveness, identify

opportunities for improvement, and communicate findings.

Issue Management: Manage independent audit opinion over the design and

operating effectiveness of controls. Monitor issues

assigned to the control and process owners

ERP Application Environment

Setups Forms/Pages Master Tables Profile Options Security

Workpapers: Documentary evidence of

risks, controls, audit testing, discussions, and

observations. Principal source for re-performance. Facilitate third party review

Analytics and Reports: Comprehensive reports library

to monitor status of engagements, resources,

issues, remediation actions, Workpapers, risks, controls

and process


Apply qualitative and quantitative

analysis Risk Assessment

Improve Internal Audit Effectiveness by utilizing resources based on risk tolerance

Analyze management response to risk questionnaire and rate risk based on risk factors such as impact on financial results, operational issues, etc


Create An Audit Engagement Planning

Streamline Audit Operations by assigning audit tasks in terms of process, risks, controls.

Provides all On-Boarding Information to define the scope and details of the Audit Engagement


Attach Key Planning Documents Planning

Facilitate third party review. Improve documentary evidence testing, and observations.

Select/Upload key documents: Audit Memo, Audit Plan, Project Plan. Audit team and third party auditors can follow the documents to perform or re-perform audit as needed.


Assign audit resources to the

plan Planning

Optimize Audit Resource Utilization. Identify task delays and cost overrun.

Resources schedule is prepared and sent for approval to the Audit Director. Engagement tasks are assigned and auditors are notified once the audit plan is approved and active.


Audit Director Approval Status Planning

Audit Director has complete visibility into all Audit Engagements by status

Engagement alerts are sent to Director email. Director dashboard provides drilldown details on each engagement. The reports can be downloaded in excel


Audit engagements assigned to

an auditor Field Work

Improvement in Audit Manager productivity with timely and detail assignments

Audit managers receives email notification when the audit engagement is approved and assigned. Manager dashboard display engagement details


Review Test Plan and Test sheets Field Work

Improve testing efficiency and accuracy.

Auditor can perform testing using pre-defined test plan and instructions. Alternatively, auditor can create a test plan on the fly. Test sheets are stored for review and evidence


Create and assign issues

Edit/Delete Issue

Manage Issues


IA monitor issues log Manage Issues


Create Remediation Plan Manage Issues


Assign and manage remediation

actions

Link Related Remediation to Issue

Manage Issues


Monitor Remediation Activities

Remediation Management Dashboard of Active Remediation

Manage Issues


Status of Key Documents Maintain Workpapers


Process Management Dashboard

User can either Create a Process or Manage an existing process (Edit/Erase)

Maintain Workpapers


Risk Management Dashboard

Dashboard view of all Active Risks

Maintain Workpapers


Risk Management

Allows user to Change/Edit or Delete Risk

Maintain Workpapers


Control Process Dashboard

Dashboard view of Active Controls

Maintain Workpapers


Control Management

Control Management screen allows user to Edit/Delete Control

Maintain Workpapers


Test Plan

Test Plan can be uploaded

Maintain Workpapers


Create Test Plan

Test Plan Details screen provides name, description, assessment type, sample size, sample collected, , etc.

Maintain Workpapers


Test Plan Attachment Maintain Workpapers


Test Instruction Details Maintain Workpapers


Key Document Status Analytics and Reports


Resource Status Analytics and Reports


Audit Engagement Details For A Selected Period Analytics and Reports


Issue Remediation Status Analytics and Reports


Remediation-Time Status Analytics and Reports


Risk Control Matrix (RCM) Report Analytics and Reports


Engagement Details With RCM Report Analytics and Reports


All Audits Scheduled by Internal Audits Analytics and Reports


Determine The Allocation of Hours in Each Engagement Analytics and Reports


Determine the Allocation of Cost in Audit Engagement Analytics and Reports


Determine Total Audit Resource (Hours) By Month Analytics and Reports


Determine Total Audit Resource Cost By Month Analytics and Reports


Resource Management/Alerts

Alert based on Client defined threshold of >90%= over

utilized

Analytics and Reports


Questions, Benefits, Costs Next Steps