Internal Controls

Xybion provides a complete internal controls and internal audit software solution built inside of the eQCM® XD Quality Management suite. The primary responsibility for the development and maintenance of internal control rests with an organization’s management. With increased significance placed on the control environment, the focus of internal control has changed from policies and procedures to an overriding philosophy and operating style within the organization. Emphasis on these intangible aspects highlights the importance of top management’s involvement in the internal control system. If internal control is not a priority for management, then it will not be one for people within the organization either.

As an indication of management’s responsibility, top management at a publicly-owned organization will include in their annual financial report to shareholders a statement indicating that management has established a system of internal control that it believes is effective. The statement may also provide specific details about the organization’s internal control system.

Internal control must be evaluated in order to provide management with some assurance regarding its effectiveness. Internal control evaluation involves everything management does to control the organization in the effort to achieve its objectives. Internal control would be judged as effective if its components are present and function effectively for operations, financial reporting, and compliance. The board of directors and its audit committee have responsibility for making sure the organization’s internal control system is adequate. This responsibility includes determining the extent to which internal controls are evaluated. Two parties involved in the evaluation of internal control are the organization’s internal auditors and their external auditors.

Internal control will also be evaluated by the external auditors. External auditors assess the effectiveness of internal control within an organization to plan the financial statement audit. In contrast to internal auditors, external auditors focus primarily on controls that affect financial reporting. External auditors have a responsibility to report internal control weaknesses (as well as reportable conditions about internal control) to the audit committee of the board of directors.

The Xybion eQCM XD suite delivers a comprehensive platform for GRC and quality management. Our comprehensive solution includes embedded best practices and flexibility for deployment in any systems environment. eQCM XD is seamlessly integrated with standard enterprise technologies including Microsoft, Oracle, EMC/Documentum and others to ensure compatibility with most system environments.

Key Features:

  • Enterprise Platform as a Service
  • On-Premise, SaaS Deployment Options
  • Advanced Integrated Technologies
  • Flexible Process Control Engine
  • Compliant with Current Regulatory Guidelines
  • Compatible with OCEG GRC Framework ensures Sustained Compliance and Governance

Other Modules:

CAPA MANAGEMENT

AUDIT MANAGEMENT

QUALITY MANAGEMENT REPORTING

COMPLAINT MANAGEMENT

IT GOVERNANCE

NONCONFORMANCES

INCIDENT MANAGEMENT

DOCUMENT MANAGEMENT

LEARNING MANAGEMENT

CHANGE MANAGEMENT

PROGRAMS AND OBJECTIVES