Businesses are exposed to an increasing degree of regulation, both general (such as the Data Protection Law) and industry-specific. The costs of ensuring compliance and the fines associated with non-compliance are increasing, as are the associated reputational risks. This has led to organizations placing increased focus on the management of Governance, Risk and Compliance (GRC) with technology-based solutions.
Operating a complex ERP system such as SAP increases the burden on a compliance function. PwC will help to reduce this burden with cost effective solutions that are based on your existing technology or the most appropriate software in the market.
Implementing robust security and controls within SAP is challenging and extremely complex. As a result, many organizations are unaware of the risks that have been configured into their system or the additional reporting functionality available for use.
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The Risk Assurance team completed a Quality assurance project for a Russian gas company’s subsidiary operating purchases for the whole Group. The project was done over the SAP system implementation. The scope of work included the Accounting, Tax and Management accounting, Finance and budgeting processes.
PwC was involved in the implementation phase of the project. We assessed the quality of the project plan, decisions, and documentation. We assisted in system integration testing, provided help in the checking of balances migrated between the legacy systems and new platform. Finally, we reviewed the completeness and accuracy of SAP system-generated reports.
Client confidence in the financial data processed by the system has significantly increased upon completion of the SAP implementation quality assurance project.