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Movaris Delivers First Solution to Unify Financial Statements, Close Tasks and Sarbanes-Oxley Controls.

Publication: Business Wire
Publication Date: 31-OCT-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SAN JOSE, Calif. -- Movaris OneClose Synchronizes Interdependent Finance Activities to Lower Auditor Costs, Reduce Time Requirements and Increase the Accuracy and Auditability of Financial Statements

Movaris today announced Movaris OneClose, the industry's first-ever single close application to directly link financial controls and close tasks to financial statements during the "last mile of finance," the series of activities performed during the financial reporting process. Movaris OneClose also creates a system of record for financial statements, the financial close and Sarbanes-Oxley compliance.

Today, most companies complete their Sarbanes-Oxley assessment after their financial close, delaying the discovery of failed key controls. Discovering failed controls after the financial close requires reevaluation of financial results and is frequently associated with material weakness disclosures and financial restatements. This is an expensive, time consuming and risky process in today's environment of increasingly complex...

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