Are your spreadsheets SOX compliant?

Financial Technologies

SOX regulation (Section 404)

The organization management is responsible for establishing and maintaining adequate internal control structure and procedures for financial reporting

(a) Rules Required. The Commission shall prescribe rules requiring each annual report required by section 13(a) or 15(d) of the Securi-ties Exchange Act of 1934 to contain an internal control report, which shall--(1) state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and(2) contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

(b) Internal Control Evaluation and Reporting. With respect to the internal control assessment required by subsection (a), each registered public accounting firm that prepares or issues the audit report for the issuer shall attest to, and report on, the assessment made by the management of the issuer. An attesta-tion made under this subsection shall be made in accordance with standards for attestation engagements issued or adopted by the Board. Any such attestation shall not be the subject of a separate engagement.

Organizations invest top dollars in purchasing and implementing systems to ensure data integrity and fraud prevention as well as to control their business processes. How-ever, spreadsheets are still being used to perform business processes - a fact that defeats the purpose of these systems and places companies at risk.

As Spreadsheet has no data integrity nor data control, it is the nemesis of SOX and inter-nal auditors. DataRails, introducing the the world first solution for Spreadsheets SOX compliance.

Excel & SOX (Section 404)

Are Your Spreadsheets SOX Compliant?

Financial Technologies

SOX regulation (Section 404)

The organization management is responsible for establishing and maintaining adequate internal control structure and procedures for financial reporting

Organizations invest top dollars in purchasing and implementing systems to ensure data integrity, prevent fraud and meet the required regulations. However, spreadsheets are still being used to perform business processes – a fact that defeats the purpose of these systems, and places companies at risk.

A spreadsheet has no data integrity nor data control, it is the nemesis of SOX and internal auditors.

DataRails is the world first solution for spreadsheet SOX compliance.

The Challenge

DataRails - The first solution that transforms your spreadsheetsto SOX compliant

DataRails provides a spreadsheet digital transformation solution for financial users. Our machine-learning, algorithmic technology provides full control, version management, cell-level audit-trail, security and compliance of Excel-based business processes that meet the highest standards required in a zero-error environment.

Change Control - Maintaining a controlled process for requesting changes to a spreadsheet and obtaining formal sign-off

Authorized users can approve versions and publish them as final versions.

Audio Trail - Log collection and moni-toring systems must provide an audit trail of all access and activity to sensitive business information.

Ensures that only authorized users can access sensitive or critical spreadsheets. final versions.

SOX (section 404) Requirmentsfor Spreadsheets

DataRails - The first solution that transform your spreadsheetsto SOX compliant

SpreadsheetsPowered by DataRails

Version Control – Ensuring only current and approved versions of spreadsheets are being used by creating naming conventions and directory structures.

Access and retrieve any saved version.

Audio Trail - Log collection and monitoring systems must provide an audit trail of all access and activi-

Every modification is moni-tored, logged and controlled to allow a complete audit trail that meets the highest stan-dards.

DataRails provides a spreadsheet digital transformation solution for financial users. Our machine-learning, algorithmic technology provides full control, version manage-ment, cell-level audit-trail, security and compliance of Excel-based business processes that meet the highest standards required in a zero-error environment.

Version Management

Approval Flow

Spreadsheet Data Loss Prevention

Full Spreadsheet Audit Trail

Maintaining a controlled process for requesting changes to a spreadsheet and obtaining formal sign-off.

Authorized users can approve versions and publish them as final versions.

Implementing a process to ensure that data embedded in spreadsheets is current and secure. In addition, the spreadsheets themselves should be stored in protected directories.

Ensures that only authorized users can access sensitive or critical spreadsheets.

Ensuring only current and approved versions of spreadsheets are being used by creating naming conventions and directory structures.

Access and retrieve any saved version

Log collection and monitoring systems must provide an audit trail of all access and activity to sensitive business information.

Every modification is monitored, logged and controlled to allow a complete audit trail that meets the highest standards.

Version Management

Approval Flow

Spreadsheet Data Loss Prevention

Full Spreadsheet Audit Trail

SOX (section 404) Requirmentsfor Spreadsheets

SpreadsheetsPowered by DataRails