How to choose a Segregation of Duties (SoD) toolNovember 23, 2022
Is your organization struggling to choose the right Segregation of Duties (SoD) tool to help ease the burden of your next Sarbanes-Oxley (SOX) audit? You’re not alone. Many businesses realize that they need to buy SoD tools to help them organize their complex web of SoD controls, and why they are so important.
What to look for in an SoD tool?
While reporting from an SoD tool without any filter, it is not uncommon, based on the size of your organization, to have millions of violations. While certain violations pose no actual threat to your business, it is helpful to filter them out and rectify them. This way, you can have visibility over your actual risk.
Investigating false positives during the audit cycle is a heavy burden and a waste of time. When choosing an audit tool, look for a solution that can provide the evidence needed to demonstrate the effectiveness of your SoD controls to your auditors.
Manual vs. automated remediation of conflict
In today’s complex environment, there are thousands of employees who have different types of access to various systems that includes ERP. For fixing or remediating these violations, you have to update the data and controls in your ERP manually or have a solution to automate the process.
Remediation is an important task in addressing access violations. This time-consuming and painstaking process requires multiple business, audit, and IT participants for determining the appropriate corrective action. Look for an SoD solution that can automate these processes for you.
Probably like many businesses, your organization assessed its SoD strategies 20 years ago as part of its SOX compliance efforts. Since then, you may not have given these SoD strategies a second thought.
You must review and update your SoD controls as your company adopts enhancements and automation with every upgrade. This includes changes in the business processes or restructures.
The controls that are vital for your organization presently can become obsolete in the future. This reality magnifies the significance of having your SoD controls managed in a solution that can scale your business. If the tool you choose is too rigid in its application of controls or does not integrate into new applications, it will only be a band-aid when it comes to a long-term challenge.
1Trooper’s SoD tool automates the entire process of SoD management. By analyzing every account that has access, it skilfully identifies and reports on the financial risks across roles, and even suggests ways to remediate issues. It anticipates user activity risks, and shifts in responsibilities, and automatically resolves conflicts.