Software helps compliance officers improve, streamline compliance activities.
RAYNHAM, Mass., October 5, 2009 – MEGA, a noted provider in the governance, risk, and compliance (GRC) market, is adding new capabilities to its compliance solution to help companies adopt a complete approach to compliance management. Designed to help compliance officers, internal auditors, and risk managers, the MEGA Solution for Compliance is ideal for leveraging regulatory issues to improve business performance.
The solution includes all of the tools necessary to define a company’s risk universe, streamline control documentation, assessment and testing processes, and establish appropriate control systems and remediation plans.
The new features – control testing, multi-compliance support, and acknowledgement of policies – and extended campaign management capabilities address evolving requirements in compliance management:
- Control testing allows continuous and periodic control assessment against all components of regulations. Compliance managers can manage tests, plus establish questionnaires, testing responsibilities, and schedules, enabling them to consolidate all results in time to meet regulatory deadlines.
- Campaign management features and customized workflows ease the deployment of questionnaires and improve verification of results.
- Multi-compliance support centralizes all information about the company’s compliance environment including processes, internal policies, and procedures, making it easier to determine the appropriate level of compliance. Extended automatic analysis and reporting enable gap analysis between existing and required levels of compliance.
- Acknowledgement of policies is managed through workflow, insuring that users acknowledge document receipt, thus verifying compliance throughout the enterprise.
Regulations addressed by the solution include Sarbanes-Oxley, the UK’s Financial Services Authority requirements, such as treating customers fairly (TCF), French financial security law LSF, Germany’s company control and transparency law, KonTraG, and Italy’s Law 262.
“Because the software is based on a risk approach and is integrated with business process analysis, it provides a comprehensive means to manage and control compliance programs,” explained Lucio de Risi, MEGA CEO.
The solution is available immediately.