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Secure, compliant, and efficient business processes are critical to enterprise operations. In SAP, Segregation of Duties (SoD) is a key principle in making this possible. What Happens When an SoD Exception Is Necessary? Often times a user will need to be granted roles and privileges that pose a conflict of interest. It could be that…

Data security is a practice that involves protecting digital information from unauthorized access, corruption, modification, or theft throughout its entire lifecycle. There are three main tenants of security: confidentiality, integrity, and availability. Data security strives to uphold these tenants by implementing policies, controls, and technologies to ensure that data is protected and accessed based on…

What is Segregation of Duties Matrix? The term Segregation of Duties (SoD) refers to a control used to reduce fraudulent activities and errors in financial reporting. While SoD may seem like a simple concept, it can be complex to properly implement. The SoD Matrix can help ensure all accounting responsibilities, roles, or risks are clearly…

What Is ITGC SOX? Complying with the Sarbanes Oxley Act of 2002 (SOX) requires organizations to record, test, maintain, and review controls affecting financial reporting processes. These internal controls are mechanisms that can identify or prevent problems in business processes, which can affect the accuracy or integrity of financial reports. Companies should apply and review…

Effective management of fraud has long been a vital capability within organizations, and for good reasons. According to the Association of Certified Fraud Examiners’ 2020 global study on occupational fraud and abuse, companies lose an estimated five percent of revenue per year due to fraud. In addition, the median duration of fraud (i.e., the average…

Roles and authorizations across ERP applications are constantly changing. This creates new challenges for organizations handling large volumes of data and transactions. Monitoring activities surrounding sensitive data transactions becomes impossible with manual processes when there are hundreds of thousands of user accounts and profiles. Organizations today require Continuous Control Monitoring software (CCM) to filter hundreds…

There is no denying that SAP applications make it easy for large organizations in almost every industry to streamline their business processes. However, that ease doesn’t include SAP software license management, which by all accounts, is considered one of the most complex compared to other ERP vendors. This complexity results in companies buying more licenses…

When considering controls, including Segregation of Duties(SoD), it’s important to focus on what we’re trying to achieve. The University of Toronto’s Internal Audit website defines a control as “any policy, procedure, practice, or mechanism designed to provide reasonable assurance that the organization’s objectives will be achieved. This includes controls designed to safeguard assets, ensure the…

Most businesses rely on the integrity of their ERP systems to operate their applications and to be in alignment with business goals and stakeholder expectations. To ensure the integrity and reduce the risk of fraud, it is important to understand where or how ERP risks can be introduced so that you can properly secure your…