According to a news release from PeopleView Compliance Group (PCG), in addition to general Sarbanes-Oxley compliance, its ComplianceSight tool also focuses on assessing internal controls as well as helping executives make their companies “fraud-proof.” The new tool helps achieve all three goals by surveying employees’ knowledge and opinions relevant to these areas.
ComplianceSight uses the surveys for fraud detection and ethical issues, and “known-respondent” employee surveys when lower-level certifications are needed to verify that a company’s internal controls are functioning properly.
The company said it has developed and categorized by job title, over 250 assessment and monitoring questions that can survey employees’ knowledge and opinions, in 17 languages, using a variety of reports as well as reporting engines to search and organize employee comments and point-and-click “drill-down” technology to simplify analysis.
The company contended that ComplianceSight will help to make it a lot little less unnerving for CEO’s and CFO’s to sign off on their financials and internal control assessments because all of the employees would have to share in that responsibility and accountability.
“Our methodology gives companies a very simple and proactive way of addressing Sarbanes-Oxley compliance, while simultaneously providing a strong deterrent to fraud,” said Joe DiDonato, PCG general managing partner, in a statement. “We think that companies who proactively use their employees to continually monitor their internal controls, and to deter fraud, will end up the big winners in convincing shareholders that their company’s financials are accurate and reliable.”