SOX News

DoubleCheck and UHY Advisors Partner to Provide Services Solutions for Addressing Governance, Risk & Compliance Initiatives

(Jan 07, 2008)-- DoubleCheck and UHY Advisors have announced a new strategic agreement designed to assist clients with turnkey software and services solutions for addressing governance, risk, compliance and testing initiatives (GRC&T) nationwide.

GRC&T is an evolving best practice for companies of all sizes which provides a more holistic assessment of their risk profile not only from a regulatory and compliance standpoint, but in a way that can deliver process and profit improvement. In a study released by the Open Compliance and Ethics Group (OCEG), 84 percent reported fragmentation of GRC activities and processes, and 65 percent claimed fragmented GRC caused serious business problems through duplication of efforts, redundant solutions, higher costs, and increased risk.

“The level of complexity of operating a business—even those not in the Global 1000-- coupled with the speed at which companies must operate, are onerous for the management of most companies,” said UHY Advisors-Texas Managing Director Norman Comstock, who leads that firm’s Technology Assurance and Advisory Services (TAAS) group. In this post-SOX era, more and more companies are looking to convert their investments in compliance into a strategic and sustainable advantage. But without an omnibus view of a company’s GRC&T, the silo approach most managers are trying to thwart within their organizations is only exacerbated.”

As a result of this agreement, clients will now have the ability to effectively create data workflows and efficient views to such Risk and Controls Framework data within the DoubleCheck software environment. “UHY Advisors’ TAAS practice is perfectly positioned to support this requirement by blending the needed technology and GRC&T best practices methods,” added Cincotta. “They have committed significant resources to serve the needs of the market while providing a best of class GRC&T solution that seamlessly integrates business processes and DoubleCheck’s software usability effectiveness. We are proud to be part of the UHY Advisors GRC Solution Center and are pleased to make UHY Advisors professional services available to existing and prospective DoubleCheck clients.”

The DoubleCheck product portfolio includes solutions for SOX Compliance (including J-SOX and C-SOX), Corporate Governance and Risk Management, plus Automated IT-GRC and Financial Control Monitoring, Testing and Administration.

DoubleCheck Solution Suite unifies governance, risk, compliance and testing (GRC&T) across a company's entire enterprise. This eliminates the cumbersome burden of numerous entity-level solutions for individual departments or disciplines within a company.

This policy driven, risk centric approach is more efficient, offers a higher ROI and greatly increases the visibility of key risk and control factors across the entire enterprise for management review and remediation. DoubleCheck is ideally suited to provide the solutions, tools, information and reporting systems essential to ensure a productive, efficient and well-organized workflow for any type of organization in any industry. UHY Advisors is positioned to support this solution portfolio with more than 25 U.S. offices that are organized across client-centric specialties to better provide direct access to industry and service expertise.

UHY Advisors Technology Assurance and Advisory Services (TAAS) group has developed repeatable solutions to meet the demands of their customers. These solutions are core to the UHY Advisors GRC Solution Center in Houston, Texas that is focused around GRC from both a business and technical perspective. The UHY Advisors GRC Solution Center has frameworks based around best practices that UHY Advisors can leverage for their growing customer base.

“Partnering with DoubleCheck will be a key foundation in our efforts to continue to build out the UHY Advisors GRC Solution Center” said Comstock. We will continue to develop best practice solutions for our customers compliance needs and now with DoubleCheck’s ability to broadly cover the marketplace, we are even better positioned to do so.”

UHY Advisors’ Enterprise Risk Advisory Services group offers clients an integrated and practical approach not only to identify risks, but also to work within their organizations to develop practical strategies to help mitigate risk and opportunities for process and profit enhancement. Services range from Sarbanes-Oxley compliance, technology assurance, and full GRC&T implementations.

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