IT Readiness for Becoming a Public Company
Overview
Upon spin-off from a larger enterprise, a quick SAP vanilla system was setup emulating the system it was previously a part of. The hitherto privately held enterprise needed to become completely compliant with SOX Controls and SEC compliance requirements.
INDUSTRY:
Hi-Tech Services
VOLUME:
Several hundreds of customers
BACKGROUND:
Privately-held company decided to go public & had IT readiness needs
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Business Controls & IT Controls
SAP System Controls
Business Controls while executing transactions in SAP
SAP User control based on segregation of duties (SOD)
Solution
- Abstract legal compliance needs and specific SAP controls were defined using the Aevitas IT consulting methodology.
- The SAP System controls, user authorization and business rules required for transaction control based on segregation of duties (SOD) were reviewed.
- IT and business controls vis-à-vis SAP controls were mapped.
- SAP system, control user authorization and transactions controls such as validation and workflow authorization were implemented.
- The enterprise had the required IT controls ready for going public.
IT control policies were translated into SAP control
Segregation of duties were controlled through user authorization
System controls were established factoring SOD
Validations and workflow were setup data reliability and supervisory control
Business Benefits Harvested
- Robust IT controls were defined.
- SAP was configured and set up in line with IT control policies.
- The enterprise had better transaction processing control than before.
- CEO and CFO certification on internal controls backed by well-established SAP control.
- Enterprise was IT-ready to go public and access larger source for funding.
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