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From our Cyber Security technical expert, Connor Thompson, CIA CISA

Part of our 2024 Resovolutions is to revolutionize the way organizations identify, manage, and mitigate risk in their ERP systems. Application security design and management risks produce a significant, immature control within organizations. Management knows these risks are often not being managed properly. The benefits seem to outweigh the risks when you consider:

Background:

Oracle provides a form to allow users to maintain certain profile options. The form is “Personal Profile Values”, and the function is “Profile User Values”.

Everyone loves setting New Year’s Resolutions. Given my history having a heart attack in 2019, I encourage you to set goals arounds eating healthy and consistent exercise (link to January newsletter story).

Application Access Controls form the foundation of your control environment in your ERP system.  However, these new SaaS systems have become quite complex. And organizations tend not to have a program to develop and manage these controls. This is why more and more organizations are partnering with outside advisory firms to help. So, what are your options?

In part 1 of this article series, I postulated that there is a systemic issue related to management override of controls. More concerning than the existence of this issue is that it isn’t being addressed by management or the audit community. This issue is systemic. Let’s discuss what changes we would need to see to correct the current situation.

The latest U.S. Securities and Exchange Commission (SEC) guidance on Cyber Security risks have “Cyber” firms buzzing.  Those that thought this would be the equivalent of Sarbanes Oxley must have been seriously disappointed.  There was no mandatory audit of Cyber risk included.

A Partnership to Optimize Oracle ERP Risk Management and SOX Compliance

August 7th, 2023: ERP Risk Advisors, a pioneering risk content company committed to identifying, managing, and mitigating ERP risk, and HALEY Consulting and Advisory Services, a leading provider of innovative solutions ensuring seamless SOX compliance backed by PCAOB standards, proudly announce their strategic collaboration. This dynamic partnership sets the stage for enhanced risk mitigation and content utilization, specifically targeting organizations running Oracle ERP systems.

Partnership to Provide Automated Segregation of Duties Review with Enhanced Security for ERP Users

Dallas, Texas, July 31st, SafePaaS the leading policy-based access governance platform, announces its partnership with ERP Risk Advisors, the leader in risk content and training for ERP systems. This strategic collaboration offers ERP users (including Oracle E-Business Suite, Oracle ERP Cloud, NetSuite and Workday) the most comprehensive and up-to-date automated review of Sensitive Access Risks and Segregation of Duties (SoD) conflicts. This innovative alliance revolutionizes security measures and significantly reduces manual efforts while ensuring compliance with auditing standards.

Written By Fred Roth, CISA, Sr. Adjunct Lecture at ERP Risk Advisors