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Is your control environment costing too much - Whats the Issue - EY - Global

Is your control environment costing too much?

What’s the Issue?

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In response to increasing stakeholder pressures, leading organizations are driving new efficiencies in their management and financial reporting operations to lower expenses and gain competitive advantage.

In the early SOX and regulatory compliance days, organizations were more focused on compliance. Risk was an afterthought.

Today, organizations understand the value derived from building control and reporting systems that address compliance and risk needs.

Major investments in enterprise resource planning (ERP) and operating model infrastructure have failed to deliver agility and speed in ERP compliance and reporting.

Organizations still struggle to create optimal control environments that balance cost with risk. Many fail to take advantage of the opportunity to create an effective and cost-efficient risk and controls environment, even when the potential cost savings would surpass the cost of control.

The result is an inability to increase shareholder value.

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