Latest release of GRC platform helps organizations align with latest COSO standards; increases departmental efficiency across GRC disciplines
MENLO PARK, Calif. – February 26, 2015 – Protiviti (www.protiviti.com), a global consulting firm, has released the latest version of the Governance Portal, designed to increase the efficiency with which organizations accomplish governance, risk and compliance (GRC) tasks across multiple business units and projects. The Governance Portal 4.3 has also been updated to help customers better align their controls with the COSO (Committee of Sponsoring Organizations of the Treadway Commission) requirements. In response to client feedback, Protiviti has also included a number of enhancements to help customers manage and report on their projects.
“When done right, integrated GRC efforts help organizations consolidate information across multiple assurance frameworks. As a professional consultancy, we’re uniquely able to help clients develop harmonized frameworks that allow them to align risk and control structures across assurance functions,” said Scott Wisniewski, managing director, Risk Technologies, Protiviti. “At Protiviti, we focus on helping clients make specific, measurable increases in departmental productivity across synergistic GRC disciplines, such as financial controls management and internal audit, through improved enterprise collaboration.”
As customers continue to extend the use of the Governance Portal across different business groups, Protiviti has enhanced the ability of users to sub-administer and sub-manage data to support multiple synergistic projects, such as internal audit, case-management and business continuity reviews. This ability allows groups to execute different types of projects within the Governance Portal while still maintaining their own collaborative workspaces. It also allows organizations to establish different types of assessment exercises managed by different discipline groups, without forcing users to view the details of other projects or running the risk that one user could overwrite another user’s assessment initiatives.
In response to updated COSO requirements, Protiviti has made enhancements to the Governance Portal’s support for COSO. An improved ability to aggregate and report on the effectiveness of entity- and process-level controls as they relate to the latest COSO standards will help clients identify the actions required to align their controls with COSO more efficiently and accurately.
Responding to Client Feedback
Since the release of Protiviti Governance Portal 4.0, which featured a new user interface and new communication, collaboration and reporting capabilities, Protiviti has continued to solicit client feedback as a way to make the Governance Portal easier to use and increase departmental efficiency. Governance Portal 4.3 features:
- An improved user interface and navigation to further simplify the user experience
- Enhanced user messaging, including concurrent audit warning messages on forms and a more efficient roll-based workflow to reduce redundancy and promote collaboration within and among different teams
- Reporting capabilities that improve access to and analysis of data
- Enhanced utilities to help manage and update data as changes occur within the organization.
The Protiviti Governance Portal is a flexible technology solution that provides the visibility and oversight needed by organizations to manage enterprise and operational risks, optimize internal audit processes, monitor compliance risk, reduce the cost of financial controls management and improve IT governance.