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Internal Control System Software

Ensure that your organization’s internal control system is effective and provides reasonable assurance of achieving objectives.

Establish an efficient internal control system

Establish the foundation for sound internal control within your organization through accountability, integrity, and shared values. Identify, assess, and mitigate the various risks facing the organization at all levels and within all functions. Obtain and use relevant information with high quality, communicate and monitor the entire system of internal controls, and address problems timely and effectively.

Corporater Internal Control System

The Corporater Internal Control System (ICS) is designed to be adaptable to changing business and operating environments. It enables organizations to respond appropriately to significant business, operational, financial, compliance, and other risks to achieving objectives. The software improves the quality of internal and external reporting regarding internal controls, including maintenance of records and processes. Furthermore, it will give the organization timely, relevant and reliable information from within and outside the organization.

Built on the Corporater Business Management Platform, Corporater Internal Control System can be configured with a comprehensive set of tools and functionalities needed for effective internal control information including control dashboards, risk analysis, data integration (including third-party data integration), data visualization, automated workflows, alerts and notifications, and reporting. The solution enables efficient implementation of and compliance with all types of internal control frameworks and legal requirements including COSO, COBIT, SOX, and other national Internal Control Regulations (e.g., Internkontrollforskriften in Norway).

Corporater Internal Control System (ICS) solution enables organizations to document and monitor control activities that mitigate risks and ensures that management’s directives are carried out. All types of control activities can be documented and monitored – this includes:

  • Information processing controls (application controls and General Computer Controls)
  • Physical controls
  • Business performance review
  • Segregation of Duties
  • Preventive or detective controls; performed manually or automatically
  • Defined key controls

Corporater Internal Control System solution ensures efficient quality for monitoring of the internal control system, whether it is by Internal Audit or a second line function. Control self-assessment and testing of controls are easy to conduct by a responsible party or distributed by a central organization – this increases efficiency of Internal Control of Financial Reporting (ICFR) process and compliance to SOX-regulations.

Corporater Internal Control System can be used as a point solution or in combination with other solutions to form a holistic GRC program. Built on Corporater Business Management Platform, the solution can also be further extended to other business management areas such as performance management, strategy management, and others, all within the same system.

Solution Features

  • Intuitive user interface
  • Control dashboards
  • Risk register
  • Internal Control system accordance with relevant standards and taxonomies
  • Policy management for code of conduct, business integrity etc.
  • Governance, management, and assurance of compliance, e.g.: SOX, Internkontrollforskriften
  • COSO framework implementation project support
  • Alignment with strategic initiatives, objectives, and performance goals
  • KRIs, KPIs, and other metrics
  • Control libraries on both group levels and entity levels
  • Incident management and connected to controls
  • Control data upload via integration and manual input
  • Control data visualization
  • Control consolidation and aggregation from internal and external data sources
  • Control Self-Assessment (CSA)
  • Dashboards for design and operating effectiveness
  • Control test templates and improvement databases
  • Frequency of testing with alerts
  • Continuous and ad-hoc monitoring of controls
  • Linking KRIs, incidents, risks, policies
  • Risk assessments of internal and external risks (qualitative and quantitative)
  • Risk analysis templates and heatmaps (for various types of risk)
  • Automated risk reporting
  • Status and alerts for risk treatment activities
  • Document management
  • Version control
  • Audit log
  • Alerts and notifications
  • Customizable branding
  • Access control / permissions
  • Surveys
  • SSO

Solution Benefits

Achieve a holistic oversight of your internal control system

Have a holistic view of your internal control activities with top-level overview dashboards. Monitor the status and performance of your internal control initiatives by individual, team, department, business unit, or the entire organization. Conduct risk assessments, identify areas of improvement, and take action to ensure company-wide adherence to your policies and procedures.

Ensure alignment across your organization

Create a central register for all internal controls with responsibilities and relevant information. No more duplicate control activities, no more confusion. Corporater enables you to have a single source of truth for all your internal control activities.

Save time by automating workflows

Save time, cost, and resources by automating your workflows. With Corporater, you may set up automated workflows to route updated controls to your employees for acknowledgement. You may also schedule recurring reviews of controls and set up automated alerts and notifications for assigned tasks and past due items.

Foster a culture of compliance and accountability

Foster a culture of compliance and accountability by keeping your employees informed about your internal control activities and holding them accountable for their tasks. Demonstrate that roles and responsibilities are properly communicated and documented. Use pre-configured management dashboards (or configure your own), where employees can monitor the status of all control activities, see their assignments, and complete tasks.

Ensure timely, relevant and reliable information

Document information requirements (and the related risk analysis and response) to help ensure that processes and controls can be executed consistently with relevant, quality information in a manner that allows continuous refinement as people, process, and technology evolve along with the organization’s objectives

Establish an efficient monitoring system

Enable your internal audit department to regularly identify emerging risks in the company. Conduct internal audit and regular checks of your internal control management system to ensure efficiency of processes and that your reporting limits are up to date. Ensure that improvement measures are taken, and deficiencies are eliminated. Generate comprehensive reports on all internal control areas, continuous application of measures, and compliance with integrated controls.

Automate and streamline internal control process

Generate and distribute comprehensive internal control reports in a variety of popular formats including Word, Excel, PPT, and PDF. Create a standardized reporting process based on concrete responsibilities, periodicity, thresholds, and reporting formats. Set up immediate deployment of reports for urgent internal control matters to ensure the Management Board and / or executive party is promptly notified.

Grow into the future

Corporater Internal Control solution can be further extended to other areas of business management including governance, performance, and compliance, all within the same system. Easily integrate Corporater solutions such as Risk management, Internal Audit Management, Regulatory Compliance Management, Performance Management, and others. Connect all your business units, standardize processes, and function more efficiently as a connected enterprise.

  • SaaS, on premise, or private cloud deployment
  • Industry-leading security for your data
  • Flexible configuration and customization
  • Rapid implementation
  • Ongoing support and innovation

Key Capabilities

Corporater Internal Control System software comes pre-configured with best practice frameworks, templates, and functionalities needed for an effective Internal Control system.

Internal Control Dashboards

Create custom Internal Control dashboards to have a complete overview of control status across your organization.

Automated Workflows

Automate your business processes and workflows to streamline operations, increase accountability, and ensure adherence to your procedures.

Flexible Configuration

Create a digital twin of your organization. Corporater features an agile, flexible configuration environment managed directly by end users.

Data Visualization

Visualize your data story with custom-colored charts, graphs, risk heat maps, strategy maps, and more. Add your brand colors and design elements.

Data Integration

Have a single source of truth. Corporater comes with a powerful data integration engine built to integrate large amounts of data from a wide range of sources.

Risk Assessments

Analyze, evaluate, and respond to your risks. Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

Single Sign-on (SSO)

Securely authenticate users with single sign-on (SSO). SSO allows users to log in with a single set of credentials across multiple platforms.

Access Control

Assign custom user access based on user role and control user permissions to manage content visibility and access to specific dashboards and features.

Alerts & Notifications

Create custom alerts to notify key stakeholders when a KPI moves above or below a specified threshold, when a goal is reached, or when a new issue arises.

Ready to get started? Request your free demo today.

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All Corporater solutions can be seamlessly integrated with one another allowing you to start with one solution and add more later as your organization’s needs evolve. With the Corporater Business Management Platform, the process of scaling up is fast, easy and non-disruptive to the end users.

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Why top organizations choose Corporater

Deployment of your choice

Select deployment option that fits your needs: SaaS, on premise, or private cloud.

Powerful Data Integration

Integrate data from various sources to have a full picture of your business.

Flexible Configuration

Have it your way – create a solution that fits your specific business requirements.

Rapid Implementation

Get up and running fast with Corporater customizable off-the-shelf solutions.

Industry-leading Security

Corporater is VL5 Veracode Verified and offers the highest level of security.

World-class Customer Support

We are here for you with premium support and continuous innovation updates.

Contact us to schedule your free demo.
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