Ask FERF (Financial Executives Research Foundation) about ... Sarbanes-Oxley tools.

Once again, technology is a great enabler. Its latest feat is assisting companies in complying with Section 404 of the Sarbanes-Oxley Act of 2002. For most companies, compliance is an enterprise-wide effort that requires a ton of data-gathering--usually from multiple locations. Software vendors have responded zealously with applications providing simple document storage systems to complex reference libraries of best practices.

Through research and interviews with a number of vendors, Financial Executives Research Foundation (FERF) provides the following information about what each company is offering. The list is by no means exhaustive, and vendors are listed alphabetically.

All of the products below have some common features including:

* Web-enablement for easy, scalable deployment to multiple locations around the world.

* Secure environments to protect the sensitive information held in the application.

Vendor Name           Product Description       FERF Observations
Product Name

Axentis LLC           Provides policy           Axentis' core business
Axentis Enterprise    management capability,    is compliance
Sarbanes-Oxley        as well as audit and      management
Compliance Solution   assessment tools. It      applications, which
                      also includes a           include Health
                      learning management       Information Privacy and
                      tool to assist in         Portability Act (HIPPA)
                      communicating             compliance applications
                      applicable laws and       and Sarbanes-Oxley.
                      regulations throughout
                      the organization.

OpenPages Inc.        Provides a central        The product offers
SOX 404               workspace for             functionality that
                      documenting internal      enforces financial
                      controls. The product     reporting workflows to
                      allows for viewing        assist in compliance
                      information by            with Section 302.
                      financial statement
                      account and process. In
                      addition, a management
                      dashboard provides
                      visibility to material
                      disclosures, internal
                      controls and metrics.

Open Text Corp.       Provides a compliance     Open Text is a
Livelink              infrastructure using      collaboration and
                      collaboration tools,      knowledge management
                      auditable workflows and   software company. The
                      process controls,         solution provides for
                      document and records      whistleblower
                      management, email         capabilities.
                      management and
                      certification and
                      training delivery.

Oracle Corp.          Works in conjunction      Process documentation
Internal Controls     with Oracle's Tutor       can be automatically
Manager               product, which serves     populated using
                      as a repository for       standards furnished by
                      process documentation.    Oracle, if a company is
                      Internal Controls         using Oracle's ERP
                      Manager provides          system. Also offers
                      functionality to          functionality to upload
                      attach audit              risk and controls
                      attributes--including     libraries, once
                      general ledger account    purchased from
                      numbers, process          PricewaterhouseCooper
                      owners, risk areas and    or Deloitte & Touche.
                      mitigating controls--to
                      processes.

Paisley Consulting    Serves as a repository    Paisley Consulting
Risk Navigator        for internal control      develops and markets
                      documentation.            audit efficiency
                      Processes associated      products. In addition
                      with significant          to Risk Navigator,
                      financial statement       which is geared to
                      accounts are identified   Fortune 1000 companies,
                      and documented. The       Paisley offers Focus, a
                      application provides a    tool that assists small
                      pre-installed series of   and mid-sized companies
                      COSO-based assessment     in complying with
                      questions.                Sections 404 and 302.

Protiviti Inc.        Repository for internal   The application
SarbOx Portal         control documentation,    provides functionality
                      evaluation and testing.   to identify key risk
                      Information can be        areas and control
                      organized by business     points.
                      process or key
                      financial reporting
                      elements. Information
                      can be viewed by
                      organization, process,
                      reporting element or by
                      using the COSO
                      Framework.

Tiffany McCann, CPA ([e-mail]) is a Research Assistant for Financial Executives Research Foundation (FERF).