Client Snapshot
A US-based global advisory firm serving clients across biotechnology, biopharmaceuticals, and chemical manufacturing sectors. The firm required support across multiple IT SOX readiness engagements involving globally distributed operations. Pierag was engaged to assess IT General Controls (ITGCs) and IT Application Controls (ITACs), strengthen testing coverage, and support SOX readiness within demanding project timelines.
The Challenge
- Multiple IT SOX readiness engagements had to be executed concurrently within compressed timelines.
- Diverse technology landscapes required the identification of systems and applications relevant to financial reporting.
- Differences in client control environments demanded tailored assessments of processes, control ownership, and technology dependencies.
- Existing control documentation and testing attributes did not consistently provide sufficient clarity or coverage of critical SOX risks.
- Audit workpapers needed clear traceability between identified risks, control activities, testing procedures, and supporting evidence.
Our Approach
- Conducted tailored risk and control assessments to define appropriate ITGC and ITAC testing scopes across client environments.
- Led walkthroughs with business and IT stakeholders to understand processes and assess control design and implementation.
- Evaluated controls across User Access Management, Change Management, Computer Operations, and relevant business applications.
- Developed structured audit documentation, including process narratives, Risk and Control Matrices, control descriptions, evidence requests, and testing procedures.
- Refined testing attributes and introduced additional procedures to address coverage gaps and align execution with audit firm expectations.
Results Delivered
- Progressed multiple IT SOX readiness engagements within required timelines through a consistent, structured execution approach.
- Strengthened coverage of critical IT risks through enhanced control attributes and testing procedures.
- Delivered review-ready workpapers with clear traceability from identified risks to testing conclusions and supporting evidence.
- Strengthened the basis for evaluating control design and implementation while helping reduce potential review comments and rework.
- Provided practical recommendations to improve ITGC documentation, user-provisioning workflows, and accountability for control performance.
Impact
Pierag supported the delivery of multiple IT SOX readiness engagements through a structured, risk-based approach tailored to each client’s technology landscape. The engagements strengthened testing consistency, improved documentation quality, and enhanced the assessment of critical IT controls. Practical recommendations also helped clarify control ownership and establish more sustainable control practices beyond the immediate readiness cycle.
